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Introduction

In: e-Development toward the Knowledge Economy

Author

Listed:
  • Elias G. Carayannis
  • Caroline M. Sipp

Abstract

Adam Smith defined land, labor, and capital as. the key input factors of the economy in the eighteenth century. Joseph Schumpeter added technology and entrepreneurship as two more key input factors in the early twentieth century. He thus recognized the role and dynamic nature of technological change and innovation as well as path dependencies in shaping the health and future of the economy and moving away from the static approach of neoclassical economics.

Suggested Citation

  • Elias G. Carayannis & Caroline M. Sipp, 2006. "Introduction," Palgrave Macmillan Books, in: e-Development toward the Knowledge Economy, chapter 1, pages 1-5, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-50873-6_1
    DOI: 10.1057/9780230508736_1
    as

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