In the conventional neoclassical growth model, technical change is generally characterized as “purely labor-augmenting,” a restriction that limits modern civilization to super-humans living in the Stone Age. As a novel and radical departure from conventional growth theory, the model...

We adopt the framework of Schumpeterian creative destruction formalized by Aghion et al. (2009) to analyze the impact of foreign entry on the productivity growth of domestic firms. In the face of foreign entry, domestic firms exhibit heterogeneous patterns of growth depending on their...

This paper embeds a wide-angled overview of the process of change, spanning the evolution of the species to the modern human-centered period. The model is based on the central proposition that change ensues from the supply-demand interaction between disorder and order, chaos and complexity....