Chapter 3 Towards an evolutionary complexity of endogenous innovation
The Economics of an Emergent System Property
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This chapter implements an evolutionary complexity approach that builds on the legacy of Schumpeter (1947) with the notions of: i) reactive decision-making; ii) multiple feedback; iii) innovation as the outcome of an emergent system process rather than individual action; iv); organized complexity and knowledge connectivity; iv) endogenous variety; and vi) non-ergodic path-dependent dynamics. Building on these bases, the chapter articulates an endogenous theory of innovation centred on analysis of the systemic conditions that make the creative reaction, and hence the introduction of innovations, possible.

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