Entrepreneurship, the New Economy and Public Policy


Book Description

Silicon Valley is the most salient example of high-tech industrial clusters. Public policymakersthroughouttheworldwouldliketolearnthesecretsofSiliconValley in order to build their own high-tech economies. The existing literature on ind- trial clusters, which traces back to Marshall (1920), focuses on the way in which ?rms bene?t from locating in a cluster; it suggests that once a cluster comes into existence, it tends to reinforce itself by attracting more ?rms. However, a more important question is how to reach this critical mass in the ?rst place. In contrast to the literature, evidence suggests that entrepreneurs rarely move when they est- lish high-tech start-ups (Cooper and Folta, 2000). This contradicts the notion that location choice analyses lead entrepreneurs to a high-tech cluster. A high-tech industrial cluster such as Silicon Valley is characterized by c- centratedentrepreneurship. FollowingSchumpeter,weemphasizethefactthat“the appearance of one or a few entrepreneurs facilitates the appearance of others” (Schumpeter,1934). Weproposeanagent-basedcomputationalmodeltoshowhow high-tech industrial clusters could emerge in a landscape in which no ?rms existed originally. The model is essentially a spatial version of the Nelson-Winter model: Boundedly rational agents are scattered over an explicitly de?ned landscape. Each agent is endowed with some technology, which determines his ?rm’s productivity (if he has one). During each period of time, an agent with no ?rm would make a decision as to whether he wants to start one. This decision is mostly affected by the behavior of his social contacts, who are all his neighbors.




Joseph A. Schumpeter


Book Description

The renowned economist Joseph A. Schumpeter (1883-1950) made seminal contributions not only to economic theory but also to sociology and economic history. His work is now attracting wide attention among sociologists, as well as experiencing a remarkable revival among economists. This anthology, which serves as an excellent introduction to Schumpeter, emphasizes his broad socio-economic vision and his attempt to analyze economic reality from several different perspectives. An ambitious introductory essay by Richard Swedberg uses many new sources to enhance our understanding of Schumpeter's life and work and to help analyze his fascinating character. This essay stresses Schumpeter's ability to draw on several social sciences in his study of capitalism. Some of the articles in the anthology are published for the first time. The most important of these are Schumpeter's Lowell Lectures from 1941, "An Economic Interpretation of Our Time." Also included is the transcript of his lecture "Can Capitalism Survive?" (1936) and the high-spirited debate that followed. The anthology contains many of Schumpeter's classical sociological articles, such as his essays on the tax state, imperialism, and social classes. And, finally, there are lesser known articles on the future of private enterprise, on the concept of rationality in the social sciences, and on the work of Max Weber, with whom Schumpeter collaborated on several occasions.




Handbook on the History of Economic Analysis Volume I


Book Description

Volume I contains original biographical profiles of many of the most important and influential economists from the seventeenth century to the present day. These inform the reader about their lives, works and impact on the further development of the discipline. The emphasis is on their lasting contributions to our understanding of the complex system known as the economy. The entries also shed light on the means and ways in which the functioning of this system can be improved and its dysfunction reduced.




Economics—Advances in Research and Application: 2013 Edition


Book Description

Economics—Advances in Research and Application: 2013 Edition is a ScholarlyEditions™ book that delivers timely, authoritative, and comprehensive information about Tariffs. The editors have built Economics—Advances in Research and Application: 2013 Edition on the vast information databases of ScholarlyNews.™ You can expect the information about Tariffs in this book to be deeper than what you can access anywhere else, as well as consistently reliable, authoritative, informed, and relevant. The content of Economics—Advances in Research and Application: 2013 Edition has been produced by the world’s leading scientists, engineers, analysts, research institutions, and companies. All of the content is from peer-reviewed sources, and all of it is written, assembled, and edited by the editors at ScholarlyEditions™ and available exclusively from us. You now have a source you can cite with authority, confidence, and credibility. More information is available at http://www.ScholarlyEditions.com/.




Heterodox Economic Theories


Book Description

Economic methodologists have traditionally paid very little attention to heterodox economic theories. In this major new book three leading heterodox scholars respond to the influential appraisals of Sraffian, radical and Marxian economics made by Mark Blaug, the eminent economic methodologist. Including replies by Mark Blaug and comments by a distinguished group of economic methodologists, this book offers a stimulating debate between heterodox and mainstream economists over the value of three important economic traditions and over the most appropriate methodology for the appraisal of economic theories.




Innovation Dynamism and Economic Growth


Book Description

I think this book is a great achievement. It is packed with useful information and thought-provoking analysis and discussion. The work on technological development is, especially, a very valuable original contribution to the work in this field. The book illuminates the technological trajectory so often ignored by economists, but which underlies Schumpeter s "clusters" of innovations, and the emphasis on trunk innovations and analysis of their role is of particular interest. Christopher Freeman, SPRU Science and Technology Policy Research, University of Sussex, UK and Maastricht University, The Netherlands This pathbreaking book addresses the economics of technological change as revealed by a unique methodology that uncovers the true nature of technological development. Masaaki Hirooka bases this new approach to the economics of technological change on the recognition of the nonlinear dynamic nature of innovation. In order to provide a richer understanding of technological development, the book focuses on the period of innovation prior to market launch, grounding the analysis within a distinct innovation paradigm. This is expressed using three logistic trajectories technology, development and diffusion which make it possible to interpret and better understand technology foresight, infrastructure formation, long business cycles and national innovation systems. The author emphasizes the importance of the timing of innovation commitment, knowledge transfer between and within these trajectories, and the evolutionary character of innovation. Those with an interest in economics, macroeconomics, technological change and evolutionary economics will find this book to be a highly stimulating and fascinating read.




Marxian Economics


Book Description

Each volume in this series includes a collection of authoritative essays from The New Palgrave: A Dictionary of Economics, selected by the Editors to illustrate the range and diversity of economics thought on a particular topic.




Perspectives on International, State and Local Economics


Book Description

If all politics are local, then all economics are also international, regional and local. Globalisation, for all its mystery and so-called inevitability, has its foundations and bloodlines in urban and regional economics. The economic impacts of poverty, housing, transportation, education, and crime are included. This book includes within its scope: multiplier and impact analysis, input-output models, growth theory, migration, urban and regional labour markets, urban and regional public policy, regional devolution, small firms policy, and foreign direct investment.




Subsistence Agriculture and Economic Development


Book Description

One of the more perplexing problems of economic development is helping subsistence farmers break away from production simply for home consumption to become commercial farmers, producing more and more for sale in the marketplace. Although subsistence farms occupy 40 percent of the worlds cultivated land and support half of mankind, facts about them and programs to increase their output are scattered. Subsistence Agriculture and Economic Development provides a unique overview of these difficulties and their significance to economic development. It is the first book to subject subsistence agriculture to rigorous multi-disciplinary examination and to bring to light new theory and empirical evidence directed toward solving the problem.This volume contains original chapters by forty leading social scientists and agricultural specialists who summarize contemporary theory, fact, and policy on the problems of developing agriculture from subsistence to a commercial basis. Each contributor speaks from one or more of the relevant standpoints of economics, sociology, agronomy, political science, anthropology, and social psychology. There emerges a clear, meaningful picture of the subsistence farmer and the problems involved in changing his attitudes, methods of production, and economic and social environment.Broad in scope, documented with pertinent case studies, and far-reaching in its guidelines for future research and policy, this work should be read by all concerned with increasing food production and with economic development. This is an area of special concern in the uses of food products as the basis for new energy resources - an issue of increasing importance in the advancing use of ethanol as a fuel drawn from corn products.