Work

Quantifying Creative Destruction: Entrepreneurship and Productivity in New Zealand

Year: 2007

Type: book-chapter

Abstract: Creative destruction “revolutionises the economic structure from within”, Joseph Schumpeter famously said, “incessantly destroying the old one, incessantly creating a new one”. Innovation in business – bringing new goods, new markets, new methods of production, new ways of organising firms – is the “fundamental impulse that sets and keeps the capitalist engine in motion” (Schumpeter, 1975, p. 83). Does the economy have enough flexibility? Are there barriers in the way of entrepreneurship? This paper develops a framework for quantifying creative destruction.

Source: Research on technological innovation, management and policy

DOI: 10.1016/s0737-1071(05)09011-6

Author: John McMillan

Institution: Stanford University

Language: English

Topic: Firm Innovation and Growth

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: Decent work and economic growth, Industry, innovation and infrastructure

Open Access status: green

Funders: Ministero dello Sviluppo Economico, Stanford Graduate School of Business