Change, Transformation and Development

For as long as one can remember, the edifice of the neoclassical economic syn­ thesis has been under attack. Critiques have focused on the extreme unreality of the assumptions that underpin the Arrow-Debreu theorems of welfare economics. They have queried the excessive formalism of the edifice, and the lack of practical significance of many of the results.They have castigated the neoclassical synthesis for its internal incoherence (lacking an independent theory of capital, for example, one of the favorite topics of the Cambridge school), its lack of a dynamic element, its non-evolutionary character, its lack of any conception of "market process" ­ and so the list could be continued (Blaug, 1997). Through all this, the neoclassi­ cal synthesis remains as strong as ever, impervious it seems to these or any other attacks. In this paper a different tack is taken. The neoclassical edifice is left alone, standing as a representation of what goes on in a certain kind ofeconomy- namely the economy wheregoods and services are producedand exchanged. The paper then introduces another kind of economy, namely an economy of productive entities ­ called "resources"- that are needed to produce the economyofgoods and services.

Change, transformation and development.- i. Evolutionary processes.- Knowledge of growth and the growth of knowledge.- Bringing institutions into evolutionary growth theory.- Choice, chance, and necessity in the evolution of forms of economies.- ii. Demand, innovation and evolution.- Designing clunkers: demand-side innovation and the early history of the mountain bike.- iii. Transforming capabilities and organisations.- A resource-based view of Schumpeterian economic dynamics.- Transferring exploration and production activities within the UK’s upstream oil and gas industry: a capabilities perspective.- Uncertainty, institutional structure and the entrepreneurial process.- iv. Schumpeter and the transformation of economic thought.- Weber, Schumpeter and Knight on entrepreneurship and economic development.- Connecting principles, new combinations, and routines: reflections inspired by Schumpeter and Smith.- v. Empirical studies.- Innovating routines in the business firm: what matters, what’s staying the same, and what’s changing?.- The emergence of a growth industry: a comparative analysis of the German, Dutch and Swedish wind turbine industries.- Intangible investment and human resources.- The dynamics of vertically-related industries. Innovation, entry and concentration.- The role of innovation and quality change in Japanese economic growth.- Entrepreneurs, innovations and market processes in the evolution of the Swedish mobile telecommunications industry.- The new geography of corporate research in Information and Communications Technology (ICT).- vi. Policy, transformation and development.- Technology transfer in United States universities.- What is the systems perspective to Innovation and Technology Policy(ITP) and how can we apply it to developing and newlyindustrialized economies?.- Knowledge production and distribution and the economics of high-tech consortia.