Heinz D. Kurz

Author information

Department of Economics and Graz Schumpeter Centre, University of Graz, 8010 Graz, Austria

E-mail: heinz.kurz@uni-graz.at

Abstract

The paper discusses the diffusion of new technologies from the perspective of the classical economists and Schumpeter. After a comparison of the pre- and post-technical change long-period positions of the economy, we illustrate the process of transition between the two in terms of a two-sector model. Next, we turn to a system with joint production. The fact that some products may be “bads” that need to be disposed of leads to a study of systems of production-cum-disposal. Finally, we investigate the selection pressure innovations exert on incumbent firms. An important message is that technical change cannot generally be studied within a partial framework of the analysis.

Keywords

classical economists, creative destruction, diffusion, disposal processes, innovation, joint production, Schumpeter, Joseph A., selection pressure, technical change, transition processes

Cite this article

Heinz D. Kurz. Technical Progress and the Diffusion of Innovations: Classical and Schumpeterian Perspectives. Front. Econ. China, 2017, 12(3): 418‒449 https://doi.org/10.3868/s060-006-017-0018-5