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- Title
USHER AN SCHUMPETER ON INVENTION, INNOVATION, AND TECHNOLOGICAL CHANGE.
- Authors
Ruttan, Vernon W.
- Abstract
The article compares the study about the role of innovation and innovator in the process of economic development, and discusses the emergence of strategic inventions which provides a useful focus to clarify the meaning the three concepts which is the invention, innovation and technological change. The concept of innovation has played a more important role in economics than the concept of invention. The concept of invention has played an important role in the literature of applied technology, sociology and history. The author has suggested that the term technological change is used to designate changes in the coefficients of a function relating to inputs to outputs resulting from the practical application of innovations in technology and economic organization.
- Subjects
TECHNOLOGICAL innovations; TECHNOLOGY; ECONOMIC development; INVENTIONS; ECONOMIC policy; CREATIVE ability in technology; ECONOMICS; SOCIOLOGY; ECONOMIC history
- Publication
Quarterly Journal of Economics, 1959, Vol 73, Issue 4, p596
- ISSN
0033-5533
- Publication type
Article
- DOI
10.2307/1884305