Business innovation and economic development: From creative destruction to the coordinated social big bang

Authors

  • Carmen González Marsal Universidad Complutense de Madrid

Keywords:

Schumpeter, innovation, entrepreneurship, economic development, dynamic efficiency

Abstract

This article is based on Schumpeter's distinction between innovation and invention based on its economic consequences and analyzes his well-known concept of creative destruction caused by business innovation. Next, it focuses on the decisive effect of social harmonization of the exercise of entrepreneurship, suggesting the overcoming of the Schumpeterian concept through the idea of coordinating creativity. In this way, it is understood that business innovation, instead of leading to the self-destruction of capitalism, makes unlimited economic and social development possible, a process that has been called a coordinated social big bang.

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References

Hayek, F.A. (1990). La fatal arrogancia. Los errores del socialismo. Madrid, Unión Editorial.

Huerta de Soto, J. (2000). La Escuela Austríaca. Mercado y creatividad empresarial. Editorial Síntesis, Madrid.

Huerta de Soto, J. (2004). “La teoría de la eficiencia dinámica”. Procesos de Mercado, vol. I, n. 1, pp. 11-71.

Huerta de Soto, J. (2010). Socialismo, cálculo económico y función empresarial. Unión Editorial, Madrid.

Rothbard, M.N. (2001). “Monopolio y competencia”. Libertas, n. 34, pp. 43-172, disponible en <http://www.eseade.edu.ar/files/Libertas/10_2_Rothbard.pdf> (consultado 1-09-2014).

Schumpeter, J.A. (1912). Theorie der wirtschaftlichen Entwicklung. Duncker & Humblot, Leipzig.

Schumpeter, J.A. (1934). The Theory of Economic Development. An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle, Harvard University Press, Cambridge.

Schumpeter, J.A. (1939). Business Cycles. A Theoretical, Historical and Statistical Analysis of the Capitalist Process. McGraw-Hill, Nueva York.

Schumpeter, J.A. (1952). Capitalismo, Socialismo y Democracia, Aguilar, Madrid.

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Published

2015-11-22

How to Cite

González Marsal, C. (2015). Business innovation and economic development: From creative destruction to the coordinated social big bang. Actualidad Económica, 25(86), 31–34. Retrieved from https://revistas.unc.edu.ar/index.php/acteconomica/article/view/12798

Issue

Vol. 25 No. 86 (2015): May-August

Section

Articles

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