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84951592575
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An earlier version of this paper was presented at the Workshop on New Issues in Industrial Economics at Case Western Reserve University Cleveland, Ohio, June 7-10, 1987
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An earlier version of this paper was presented at the Workshop on New Issues in Industrial Economics at Case Western Reserve University Cleveland, Ohio, June 7-10, 1987.
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84951592576
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I have expanded on the subject in an article, Schumpeterian Dynamics, first published, then in the volume The Dynamics of Market Economies, ed. RH. Day and G. Eliasson, Industrial Institute for Economic and Social Research (IUI), Sthlm 1986
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I have expanded on the subject in an article, Schumpeterian Dynamics, first published in Journal of Economic Behavior and Organization 1984:1, then in the volume The Dynamics of Market Economies, ed. RH. Day and G. Eliasson, Industrial Institute for Economic and Social Research (IUI), Sthlm 1986.
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(1984)
Journal of Economic Behavior and Organization
, Issue.1
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order immediately to introduce the reader to the essence of the concept the following example from the history of the British textile industry may be used: Once the flying shuttle had come into use in the 1730’s, there emerged an acute shortage of yarn. This induced a number of inventions and innovations in spinning shortly after 1750. These were so radical in nature that weaving technology fell behind in its turn. As long as this technology did not catch up with that in spinning, the spinners were plagued with serious problems of overproduction. The invention of the mechanical loom toward the end of the century finally created the preconditions for balance among the different stages of production in the textile industry
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In order immediately to introduce the reader to the essence of the concept the following example from the history of the British textile industry may be used: Once the flying shuttle had come into use in the 1730’s, there emerged an acute shortage of yarn. This induced a number of inventions and innovations in spinning shortly after 1750. These were so radical in nature that weaving technology fell behind in its turn. As long as this technology did not catch up with that in spinning, the spinners were plagued with serious problems of overproduction. The invention of the mechanical loom toward the end of the century finally created the preconditions for balance among the different stages of production in the textile industry.
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0038625394
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For further, and more elaborated, evidence I refer to my dissertation, American Economic Association Translation Series, Homewood. This book was first published in Swedish in 1950. Most results of later research, mainly on more recent industrial developments in Sweden and Finland have, in so far as they have been published at all up till now, appeared only in Swedish and, in some cases, in Finnish
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For further, and more elaborated, evidence I refer to my dissertation Entrepreneurial Activity and the Development of Swedish Industry 1919-1939, American Economic Association Translation Series, Richard D. Irwin, Homewood 1970. This book was first published in Swedish in 1950. Most results of later research, mainly on more recent industrial developments in Sweden and Finland have, in so far as they have been published at all up till now, appeared only in Swedish and, in some cases, in Finnish.
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(1970)
Entrepreneurial Activity and the Development of Swedish Industry 1919-1939
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Irwin, R.D.1
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It is interesting to compare the creative destruction of the 1920s and early 1930s with what happened in the 1970s when very big subsidies led to a long delay in accepting the consequences of a widespread negative transformation pressure. Contrary to what was the case in the interwar period, when there were practically no subsidies at all, this meant that resources of capital and labor were engaged in enterprises having neither competitiveness nor any development power. A structural tension which had almost no potential dynamic elements was maintained for several years
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It is interesting to compare the creative destruction of the 1920s and early 1930s with what happened in the 1970s when very big subsidies led to a long delay in accepting the consequences of a widespread negative transformation pressure. Contrary to what was the case in the interwar period, when there were practically no subsidies at all, this meant that resources of capital and labor were engaged in enterprises having neither competitiveness nor any development power. A structural tension which had almost no potential dynamic elements was maintained for several years.
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