This is a continuing live blog for the Innovation & Entrepreneurship Reading Group‘s discussion of Thomas McCraw’s Prophet of Innovation. You can see previous entries by clicking on the “Schumpeter Live Blog” tag below. The second section of the book covers Schumpeter’s life between 1925 and 1940, following the death of his beloved mother and …
Welcome to the Innovation & Entrpreneurship Reading Group’s Live Blog of Thomas McCraw’s Prophet of Innovation: Joseph Schumpeter and Creative Destruction. The theme of the book is Schumpeter’s emphasis on capitalism as a process of creative destruction. That is, entrepreneurship and innovation creates value and is the engine of the capitalist economy, but those that win …
I’m sure that I am not the only member of the I&E Reading Group plodding through Thomas McCraw’s enthralling Prophet of Innovation this week. I will also start in on the “live blog,” as promised. The book is a linear progression through both his life and his thinking about economics. One of the clear messages, …
If innovation is of interest to you, you might consider reading up on Nathan Myrhvold. My mention of Josh Lerner’s new book in the previous post prompted me to think of Mr. Myrhvold, whose latest scheme is to acquire thousands and thousands of patents. What that will do to US innovation and competitiveness is anyone’s …
That’s the title of Robert Litan’s speech from the Foreign Policy Research Institute, and it is a crisp and interesting read. Here’s a taste: Entrepreneurs are vital to the economy not only because of the innovations they bring to the market, but also for the jobs they create. The Kauffman Foundation sponsored a study recently …
While dredging through Steven Landsburg’s excellent, yet interminable, chapter on perfect competition, we took a brief break to contemplate the Austrian critique paused to think about some of the Austrian critiques of the competitive model. To wit: The trouble with the concept from the Austrian point of view… is that it describes an equilibrium situation …
Well, the good news is that the new site architecture is in place and it looks pretty fabulous — thank you to Jay Dansand and the gang for transporting the site. The bad news is that some of our pithy posts from last week have been vaporized. Overall, I judge the change to be Kaldor-Hicks …
Early in life I had three ambitions. I wanted to be the greatest economist in the world, the greatest horseman in Austria, and the best lover in Vienna. Well, I never became the greatest horseman in Austria. That, of course, is from Joseph Schumpeter, the subject of the first book in the Innovation & Entrepreneurship …
A number of faculty members have formed a reading group for issues of innovation and entrepreneurship. Fittingly, it is called the Innovation and Entrepreneurship Reading Group. Our first book is Thomas McCraw’s award-winning Prophet of Innovation: Joseph Schumpeter and Creative Destruction. Schumpeter is a central figure in entrepreneurship and innovation scholarship, and is closely associated …
