When management theory meets economics : towards innovation and a dynamic growth model of the firm

Article


Lange, T. 2006. When management theory meets economics : towards innovation and a dynamic growth model of the firm. Journal of Interdisciplinary Economics. 17 (3), pp. 255-267.
TypeArticle
TitleWhen management theory meets economics : towards innovation and a dynamic growth model of the firm
AuthorsLange, T.
Abstract

It has been argued that the dynamic effects of economic development through innovation are poorly understood by mainstream economic theory. This paper provides a conceptual and heuristic framework that it intended to move us closer to a dynamic growth model of the firm in a high-tech, knowledge based economy. A Cobb-Douglas production function with components of high tech capital and skills and with assumptions on the origin of innovative processes is being introduced to provide structure to the arguments. By drawing on the strategic groundwork of management theorists Moran and Ghoshal, it proceeds by applying an "appreciative" hypothesis of economic development (that is, a descriptive tool rather than a formal model) to test a Schumpeterian process. It also provides a response to the call for a broadened agenda to include a greater degree of attention to the selection (and de-selection) mechanism that influences the use of resources. these issues and others are investigated and some conjectures offered.

PublisherA B Academic Publishers (this Journal acquired by Sage in 2011)
JournalJournal of Interdisciplinary Economics
ISSN0260-1079
Publication dates
Print2006
Publication process dates
Deposited24 Apr 2013
Output statusPublished
LanguageEnglish
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