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Erscheinungsjahr: 
2006
Schriftenreihe/Nr.: 
KOF Working Papers No. 153
Verlag: 
ETH Zurich, KOF Swiss Economic Institute, Zurich
Zusammenfassung: 
The purpose of the paper is to impose the diversity structure on the Schumpeterian evolution modelled axiomatically within a dynamical system approach to the Arrow-Debreu theory of general equilibrium. In this framework two basic forms of economic life studied by Schumpeter, i.e., the circular flow and economic development are investigated as specific properties of a dynamic system, where single production systems being the parts of the Debreu models change in the definite environment according to the rules of the Schumpeterian evolution. Moreover, the Sterling diversity-triplet concept based on subcategories of variety, balance and disparity, is slightly modified and applied to serve as a tool for rigorous analysis of innovative and cumulative changes in production system with respect to diversity structure. Finally, integrating diversity aspects into a dynamic system approach, the study identifies innovative processes as the source of growing diversity in the Schumpeterian vision of economic development.
Schlagwörter: 
diversity
Schumpeterian evolution
Arrow-Debreu theory
dynamic system approach
JEL: 
D50
O30
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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