Bazhal, Iurii. The Political Economy of Innovation Development: Breaking the Vicious Cycle of Economic Theory: [book review, preprint]
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Date
2018-03
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Abstract
Explores the category of Schumpeterian innovations
as an isolated factor of economic development,
which creates a new added value and may become
like a “stem cell” of new mainstream theory of economic
development, assessing the gap between neoclassical
theory and innovation activities. Discusses
innovations—a known unknown phenomenon of
economy; key features of Joseph Schumpeter’s theory
of economic development; the “vicious cycle” of
a political economy without innovations; innovation
development versus reindustrialization; evaluating
innovation’s impact on economy; and human capital
and innovation development. Bazhal is Head of the
Economics Department at the National University
of Kyiv–Mohyla Academy.
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Keywords
economic development, economics, book review
Citation
Bazhal Iurii. The Political Economy of Innovation Development : Breaking the Vicious Cycle of Economic Theory. New York : Springer Nature, Palgrave Macmillan, 2017. Pp. ix, 135. $54.99, cloth. ISBN 978–3–319–54851–7, cloth ; 978–3–319–54852–4, e-book : [Annotation of the monograph] // Journal of Economic Literature. - March 2018. - Vol. 56, issue 1 (27).