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Supply and Demand on Innovation in Eastern Slovakia

Author

Listed:
  • Gabriela Koľveková

    (Technical University of Kosice)

  • Radoslav Tušan

    (Technical University of Kosice)

Abstract

The very first thoughts about innovations were published by J. A. Schumpeter (1964) in the work „Theory of economic development“. Schumpeter presents his sight that the cause of economy depression is expansion, which “rolls over” the economy and calls for special way of adaptation to new conditions. Schumpeter illustrates the base of the economic cycles by endogenous causes, but he accepts also the influence of so-called exogenous natural and social factors that can prolong the state of depression. Innovation process is in his opinion dependent upon technical progress and activities of entrepreneurs and innovations are the core of the effective competition. Economic development is base on the changes that arise spontaneous, within the system. This endogenous factor brings up innovations, fundamental changes in the field of technique and technology of production, in the organisation of production and its management. According to Schumpeter the main personality that gives dynamics to the economic system is the entrepreneur, who by his creative activity realizes economic development.

Suggested Citation

  • Gabriela Koľveková & Radoslav Tušan, 2007. "Supply and Demand on Innovation in Eastern Slovakia," Eszak-magyarorszagi Strategiai Fuzetek, Faculty of Economics, University of Miskolc, vol. 4(2), pages 100-109.
    • Handle: RePEc:mic:esfjrn:v:4:y:2007:i:2:p:100-109
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