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Technology and Economic Development: The Schumpeterian Legacy

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  • Rinaldo Evangelista

Abstract

The main argument put forward in the paper is that the recent neo-Schumpeterian literature, while providing fundamental contributions to our understanding of innovation, has contributed to the emergence of an optimistic reading of the relationship between technology, economy, and society, with technology able to guarantee strong economic growth and social welfare. It is also argued that such an “optimistic bias†has been associated with a dominant supply-side and micro-based view of the technology–economy relationships. JEL Classification: B52; O10; O30

Suggested Citation

  • Rinaldo Evangelista, 2018. "Technology and Economic Development: The Schumpeterian Legacy," Review of Radical Political Economics, Union for Radical Political Economics, vol. 50(1), pages 136-153, March.
    • Handle: RePEc:sae:reorpe:v:50:y:2018:i:1:p:136-153
    DOI: 10.1177/0486613416666565
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    More about this item

    Keywords

    technology; innovation; Schumpeter; development; crisis;
    All these keywords.

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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