innovative workers and the other one for knowledge workers. In both economies, workers allocate time between learning and … discovering new knowledge. Both markets consist of a continuum of heterogeneous agents that are distinguished by their learning … cost of learning is sufficiently high, the distribution of net wage income in the knowledge economy dominates that in the …

latter is closely connected by Schumpeter with uncertainty and the central role of innovation in economic development under … Schumpeter's changing views about the sources of innovation under capitalism, and compare Schumpeter's views on the evolution of …