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The origins of the economics of Innovation

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  • Mario COCCIA

    (Arizona State University, Interdisciplinary Science and Technology Building 1 (ISBT1) 550 E. Orange Street, Tempe- AZ 85287-4804 USA.)

Abstract

This study suggests that the origins of the economics of technical change go back to many years before Schumpeter’s contributions. The Scottish philosopher John Rae with his book Statement of Some New Principles on the Subject of Political Economy, issued in 1834, put forward the basis of the Economics of innovation individuating the nature, causes of technological innovations (e.g., steam engine) and effects of technological progress on economic growth of nations. Rae also discusses the evolution and role of vital technologies for the wealth and employment in Europe and North America. Overall, then, Rae’s work is basic for the origin of the Economics of innovation, for defining the domain of this discipline and for explaining the effects of vital technologies in society. However, the conclusions of this study are tentative. There is need for much more detailed research into this research topic.

Suggested Citation

  • Mario COCCIA, 2018. "The origins of the economics of Innovation," Journal of Economic and Social Thought, KSP Journals, vol. 5(1), pages 9-28, March.
    • Handle: RePEc:ksp:journ3:v:5:y:2018:i:1:p:9-28
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    References listed on IDEAS

    as
    1. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    2. Mario COCCIA, 2017. "The Fishbone diagram to identify, systematize and analyze the sources of general purpose technologies," Journal of Social and Administrative Sciences, KSP Journals, vol. 4(4), pages 291-303, December.
    3. Mario Coccia, 2007. "A new taxonomy of country performance and risk based on economic and technological indicators," Journal of Applied Economics, Universidad del CEMA, vol. 10, pages 29-42, May.
    4. Coccia, Mario & Wang, Lili, 2015. "Path-breaking directions of nanotechnology-based chemotherapy and molecular cancer therapy," Technological Forecasting and Social Change, Elsevier, vol. 94(C), pages 155-169.
    5. Coccia, Mario, 2018. "A Theory of the General Causes of Long Waves: War, General Purpose Technologies, and Economic Change," Technological Forecasting and Social Change, Elsevier, vol. 128(C), pages 287-295.
    6. Giuseppe Calabrese & Mario Coccia & Secondo Rolfo, 2005. "Strategy and market management of new product development and incremental innovation: evidence from Italian SMEs," International Journal of Product Development, Inderscience Enterprises Ltd, vol. 2(1/2), pages 170-189.
    7. Coccia, Mario, 2010. "Energy metrics for driving competitiveness of countries: Energy weakness magnitude, GDP per barrel and barrels per capita," Energy Policy, Elsevier, vol. 38(3), pages 1330-1339, March.
    8. Malerba, Franco, 1992. "Learning by Firms and Incremental Technical Change," Economic Journal, Royal Economic Society, vol. 102(413), pages 845-859, July.
    9. Mario COCCIA, 2018. "Types of government and innovative performance of countries," Journal of Social and Administrative Sciences, KSP Journals, vol. 5(1), pages 15-33, March.
    10. Mario Coccia, 2006. "Classifications of innovations: Survey and future directions," CERIS Working Paper 200602, CNR-IRCrES Research Institute on Sustainable Economic Growth - Torino (TO) ITALY - former Institute for Economic Research on Firms and Growth - Moncalieri (TO) ITALY.
    11. Veblen, Thorstein, 1904. "Theory of Business Enterprise," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number veblen1904.
    12. Mario Coccia & Ugo Finardi & Diego Margon, 2012. "Current trends in nanotechnology research across worldwide geo-economic players," The Journal of Technology Transfer, Springer, vol. 37(5), pages 777-787, October.
    13. Mario COCCIA, 2018. "The relation between terrorism and high population growth," Journal of Economics and Political Economy, KSP Journals, vol. 5(1), pages 84-104, March.
    14. Mario COCCIA, 2018. "Theorem of not independence of any technological innovation," Journal of Economics Bibliography, KSP Journals, vol. 5(1), pages 29-35, March.
    15. Giovanni Dosi, 2000. "Sources, Procedures, and Microeconomic Effects of Innovation," Chapters, in: Innovation, Organization and Economic Dynamics, chapter 2, pages 63-114, Edward Elgar Publishing.
    16. Mario COCCIA, 2017. "Disruptive firms and industrial change," Journal of Economic and Social Thought, KSP Journals, vol. 4(4), pages 437-450, December.
    17. Mario COCCIA, 2018. "Violent crime driven by income Inequality between countries," Turkish Economic Review, KSP Journals, vol. 5(1), pages 33-55, March.
    18. Anthony Brewer, 1991. "Economic Growth and Technical Change: John Rae's Critique of Adam Smith," History of Political Economy, Duke University Press, vol. 23(1), pages 1-11, Spring.
    19. Mario COCCIA, 2018. "Evolution of the economics of science in the Twenty Century," Journal of Economics Library, KSP Journals, vol. 5(1), pages 65-84, March.
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    Cited by:

    1. Mario COCCIA, 2018. "The relation between terrorism and high population growth," Journal of Economics and Political Economy, KSP Journals, vol. 5(1), pages 84-104, March.
    2. Mario Coccia & Matteo Bellitto, 2018. "Critical analysis of human progress: Its negative and positive sides in the late-capitalism," Papers 1804.09550, arXiv.org.
    3. Mario COCCIA, 2018. "Theorem of not independence of any technological innovation," Journal of Economics Bibliography, KSP Journals, vol. 5(1), pages 29-35, March.
    4. Mario COCCIA, 2018. "Violent crime driven by income Inequality between countries," Turkish Economic Review, KSP Journals, vol. 5(1), pages 33-55, March.
    5. Mario Coccia, 2020. "How ( Un )sustainable Environments Are Related to the Diffusion of COVID-19: The Relation between Coronavirus Disease 2019, Air Pollution, Wind Resource and Energy," Sustainability, MDPI, vol. 12(22), pages 1-12, November.
    6. Mario COCCIA, 2018. "Types of government and innovative performance of countries," Journal of Social and Administrative Sciences, KSP Journals, vol. 5(1), pages 15-33, March.
    7. Mario COCCIA, 2018. "Evolution of the economics of science in the Twenty Century," Journal of Economics Library, KSP Journals, vol. 5(1), pages 65-84, March.

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    More about this item

    Keywords

    Invention; History of technology; Economic growth; New technology; Technological change; Economics of innovation; Economics of technical change.;
    All these keywords.

    JEL classification:

    • B11 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Preclassical (Ancient, Medieval, Mercantilist, Physiocratic)
    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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