Abstract
From an economic standpoint, the concept of innovation can be traced at least as far back as the Physiocrats in France in the mid-1700s. Nicolas Baudeau (1910, p. 46) referred to a process guided by an active agent, which he called an entrepreneur, within a capitalistic system:
Such is the goal of the grand productive enterprises: first to increase the harvest by two, three, four, ten times if possible; secondly to reduce the amount of labor employed and so reduce costs by a half, a third, a fourth, or a tenth, whatever possible.
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© 2002 Springer Science+Business Media New York
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Feldman, M.P., Link, A.N., Siegel, D.S. (2002). The Entrepreneurial Process. In: The Economics of Science and Technology. Springer, Boston, MA. https://doi.org/10.1007/978-1-4615-0981-3_5
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DOI: https://doi.org/10.1007/978-1-4615-0981-3_5
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