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The Social Capital of Regional Dynamics: A Policy Perspective

  • Hans WestlundEmail author
Chapter
Part of the Advances in Spatial Science book series (ADVSPATIAL)

Abstract

Creating something new, improving the quality and characteristics of existing products or producing things in a more cost efficient manner are three of the ways responsible for economic growth. Of these three, it is only the last one that can be considered connected to neoclassical theory, in the form of optimum combination of the given production factors under a given technology. A change in technology, as well as the sources to the other two ways contributing to the economic growth do not occur through variations in the quantities of production factors, but by the setting up of new production functions through different types of innovations, or what Schumpeter (1934, 1950) denominated as new combinations of production factors. In this expression also lies an understanding of the heterogeneity of the concepts of labor and capital and the possibility of combining an infinite number of labor and capital in an infinite number of combinations. Thus, studying innovations and economic change requires other approaches than those of traditional mainstream economics.

Keywords

Social Capital Innovation System Innovation Activity Knowledge Spillover Triple Helix 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Notes

Acknowledgments

The author has benefited from comments from Martin Andersson, Kiyoshi Kobayashi, Takashi Omori and three anonymous referees.

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Copyright information

© Springer-Verlag Berlin Heidelberg 2009

Authors and Affiliations

  1. 1.National Institute for Working LifeÖstersundSweden

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