Date of Award

6-2010

Document Type

Thesis

Department

Economics

Subjects

Keynesian economics, Economics -- History -- 20th century, Joseph A. Schumpeter (1883-1950), Business cycles, Economics, Institutional economics

Abstract

This paper approaches innovation from an evolutionary perspective. Literature spanning a broad range of traditions in economics is considered, to include Institutionalist, Schumpeterian, post-Keynesian, and growth theorists. Key systemic changes are examined in the context of prevailing technological and social institutions. It is argued that expectation-fixing effects such as path-dependence in investment and innovation provide structure to a social network of market institutions that seek to validate money contracts. The institution of money is considered as a center of power in the system and affects the course of innovation. Money as the unit of account becomes the object of desire in a system of monetary production.

Comments

An undergraduate honors thesis submitted in partial fulfillment of the requirements for the degree of Bachelor of Science in University Honors and Economics

Persistent Identifier

https://archives.pdx.edu/ds/psu/32383

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