Schumpeter Dynamics of Innovation
Technologically, this century is characterized by an unprecedented rate of innovation triggered by and triggering a fast competitive race of economic and political entities (Nelson and Winter 1982, Dosi et al. 1988, Nelson 1990). This hinges on two interrelated factors. First, the comprehensiveness and great intensity with which technological research is undertaken and utilized, and second, the symbiotic interaction between private enterprises and the public administration which provides an elaborate infrastructure of education, public and semipublic research institutions, grants, tax incentives, etc., as well as public procurement and large publicly funded projects which serve innovation.
KeywordsPublic Procurement Symbiotic Interaction Interrelated Factor Economic Wealth Individual Entrepreneur
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