Abstract:
The last years were marked by a sharp and severe crisis on the financial markets which spread in a very painful way to the real sector of the world’s economy and lead to many problems even beyond the scope of pure economics. Furthermore, we face dangerous developments in fields like climate change, aging societies and energy security where we need sustainable solutions for the future. This calls for innovations which are the major driver of economic growth and development. To analyze innovation processes the restriction of a framework suited to the analysis of innovation towards the industrial sphere of an economy is not sufficient because of the important co-evolutionary dimensions of innovation. Instead, a comprehensive economic theoretical approach is needed which encompasses all spheres of economic life. This paper is filling this gap by introducing Comprehensive Neo-Schumpeterian Economics and the Neo-Schumpeterian approach towards public sector economics.
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