Productivity Slowdown, Exhausted Opportunities and the Power of Human Ingenuity—Schumpeter Meets Georgescu-Roegen
Abstract
:1. Introduction
- Building on theoretical considerations, can we approve the Gordon dilemma and the projected scenarios on future economic progress?
- How can the power of human ingenuity and different types of knowledge be used for confronting the pessimistic future projections?
2. Exhausted Opportunities and Productivity Slowdown
3. Reply to the Gordon Dilemma: Three Propositions
3.1. Qualitative Change and Human Ingenuity
3.2. The Downside of Human Ingenuity
3.3. Reconciling Schumpeter and Georgescu-Roegen
4. On the Power of Knowledge and its Mandate to Transform
4.1. Historical Developments: Four Knowledge-Related Effects
4.1.1. Transcending Insurmountable Barriers: The Apollo Effect
4.1.2. Limits to Growth: The Club of Rome Effect
4.1.3. Distributing the Burden: The Mass University Effect
4.1.4. Beyond Economic Reasoning: The Summer of Love Effect and the #FridaysForFuture Effect
4.2. From the Mico Level to the Macro Level: Knowledge in Dedicated Innovation Systems (DIS)
4.3. Meso-Level Measurements: On the Measurement of Qualitative Change
5. Summary and Conclusions
Author Contributions
Funding
Conflicts of Interest
References
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Pyka, A.; Bogner, K.; Urmetzer, S. Productivity Slowdown, Exhausted Opportunities and the Power of Human Ingenuity—Schumpeter Meets Georgescu-Roegen. J. Open Innov. Technol. Mark. Complex. 2019, 5, 39. https://doi.org/10.3390/joitmc5030039
Pyka A, Bogner K, Urmetzer S. Productivity Slowdown, Exhausted Opportunities and the Power of Human Ingenuity—Schumpeter Meets Georgescu-Roegen. Journal of Open Innovation: Technology, Market, and Complexity. 2019; 5(3):39. https://doi.org/10.3390/joitmc5030039
Chicago/Turabian StylePyka, Andreas, Kristina Bogner, and Sophie Urmetzer. 2019. "Productivity Slowdown, Exhausted Opportunities and the Power of Human Ingenuity—Schumpeter Meets Georgescu-Roegen" Journal of Open Innovation: Technology, Market, and Complexity 5, no. 3: 39. https://doi.org/10.3390/joitmc5030039