The commercial development of electricity in the late nineteenth century brought about a technological revolution comparable to, if not exceeding, the development of the steam engine more than a century earlier. While the steam engine laid the groundwork for the Industrial Revolution and altered...

The Elgar Companion to Neo-Schumpeterian Economics is a cutting-edge collection of specially commissioned contributions highlighting not only the broad scope but also the common ground between all branches of this prolific and fast developing field of economics.

This paper argues that recent trends in the global economy have led to a shift in developed countries’ comparative advantage from mature industrial to early stage entrepreneurial production. We develop a three stage product life cycle model in which we distinguish between life cycle...