Self-Renewal Capacity and Economic Growth

This paper adopts the point of view that a crisis will face a person, organisation, region orcountry at some point in their life span or history. The question is how to prepare for thecrises and recover from them afterwards? Some of us recover better than others and in ashorter time. The concept of self-renewal capacity will be introduced here as a tool toprepare for the future. Three economic theories: neoclassical and endogenous growththeories, and evolutionary economics based theory are used here as reference points insearch of self-renewal capacity. The results show that endogenous growth theory gives moreroom for self-renewal capacity than does neoclassical growth theory, but, nonetheless,several questions, such as the dynamic of economies, remain unsolved....