Schumpeter and Schumpeterians on competition: some policy implications

The purpose of the paper is to investigate three issues. First, the paper tries to understand the definition of competition and hence the type of competition policy that can be drawn from the modern so-called Neo-Schumpeterian literature. We will see that this literature is abundant and diversified. In spite of its variety, it has also common features regarding the theory of competition as well as competition policy. Secondly we will also emphasize the various aspects of Schumpeter’s legacy that were or are under-estimated by his contemporary followers concerning the concept of competition. We will argue that these aspects are not negligible and that they may also influence the impact of Schumpeter’s own contribution to the characterization but also the criticism of present developments that claim to build a conception of competition policy in line with Schumpeter’s original message. Finally, and more generally, we will stress how Schumpeter’s and Neo-Schumpeterian developments and preoccupations in the field of competition can help us to enlighten the present developments related to competition and industrial policies and to set up their limits.