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In order to explain change and growth at the aggregate levels, three levels: macro, meso and micro must be taken into account. Applying the theories from Keynesian and post‐Keynesian economics (PKE) best explains the macro level and applying those from Schumpeterian and neo‐Schumpeterian economics (NSE) best explains the micro level. Besides this, the meso level can be further explained by merging both post‐Keynesian and neo‐Schumpeterian theories. Such a unifying approach has been missing from the literature so far. Bringing these schools of thought together is important for mutual learning and further development of innovation theory. This paper aims to effect this.

The paper presents a survey of the relevant secondary literature of the aforementioned schools of thought, identifying their methodological practice and key contributions to innovation theory.

A combination of these schools of thought offers a richer approach to studying innovation. It is found to exist in particular in the evolutionary, institutional and long‐run perspectives, in combination with emphasis on the role of finance in production.

One is invited to develop one's own theoretical and empirical approach that combines the advantages of all the schools of thought presented.

The paper is exploratory, as it reconsiders how a comprehensive approach to studying innovations can be built. It examines the existing literature. It will be of value to researchers in innovation.

Aims to assess the potential for a broad “green” technoeconomic paradigm (TEP) to effectively achieve and sustain higher levels of welfare from economic and environmental sources in manylower income countries (LIC). A green TEP comprises a new socioeconomic system based upon a set of inter‐related technologies that increase human welfare, but focus upon saving material, energy and other environmental resources. TEPs have pervasive social and economic effects that include substantial productivity, trade competitiveness, and environmental quality advantages. The desirability of such economic change must incorporate the general approach of social economics and alternative notions of well‐being.

The paper is largely discursive in nature and provides a systematic identification of the LIC conditions that are likely to promote, and benefit from, the pervasive adoption of material‐ and energy‐saving technologies. Some results of an exploratory cross‐country study of the empirical link between technology capability and the human development index (HDI) are utilized in the discussion.

The paper concludes that a green TEP may well provide a viable alternative development approach in the LICs. The main advantages are derived from related resource efficiency gains and reductions in the socioeconomic metabolism, and the benefits of a relative production factor shift toward labor (and away from materials, energy, and environment‐intensive capital). The potential for LICs is also facilitated by the positive spillovers and decreasing cost of green TEP‐related knowledge and technology diffusion in the expanding, decentralizing global communication network. The higher income nations would need to play a significant role in this process.

Ecological modernisation and material and energy‐saving technologies are widely viewed as essential for achieving long‐term economic and social well‐being improvements in the twenty‐first century and beyond. Discussion of this promising approach typically assumes that this transformation is only viable in the technological and economic context of the higher income nations. However, this paper provides a detailed case for the strategic encouragement and adoption of a green TEP for sustainable economic development and environmental conditions in LICs.

The purpose of this paper is to examine the link between Joseph Schumpeter’s economics and the rise of General Motors (GM).

The paper uses regression analysis and time series analysis of market synchronization.

There is a strong link between GM rise to dominance of the domestic automobile industry and nuanced features of Schumpeterian economics.

The paper furthers the examination of the role of information economics on marketing channel performance.

Information helps in production decisions by synchronizing production with consumer demand.

Economic efficiency enhances the human welfare for better forecasting, lower inventories and greater profits.

This topic has been explored before but methodology used in this paper is innovative. The paper uses Granger causality.

The research fields of service innovation and social innovation have, until now, been largely disconnected. At the most basic level, a great many social innovations are services, often public sector services with social entrepreneurs organizing and delivering service innovations. As well as this overlap in the focus of research, scholars in both research fields address socio-economic concerns using multidisciplinary perspectives. The purpose of this paper is to provide a framework that can bridge the two research fields.

Inter-linkages between service and social innovation are shown by identifying research areas in which both find a joint heuristic field. This approach has been illustrated in a set of case studies in the health sector in Europe.

The bridge between social innovation and service innovation research can be built when social innovation is examined through a multi-agent framework. The authors focus on social innovations where the co-creation of novel services is guided by the prominent position taken by citizens, social entrepreneurs or third sector organizations (NGOs or charities) in the innovation process. Of particular interest are the ways in which the interests of individual users and citizens are “represented” by third sector organizations.

The case study of the Austrian nationwide public access defibrillation programme provides an exemplar of the process of co-creation by which this social innovation was developed, implemented and sustained. Here the Austrian Red Cross acted on behalf of citizens, organizing an innovation network capable of creating both the demand and the supply side of a sustainable market for the production and safe application of portable automated external defibrillators (AEDs) in Austria. This process involved, first, raising public awareness of the need for portable defibrillators and acting as a user representative when inducing changes in the design of portable AEDs. Later, there was the institutionalization of AED training in every first aid training in Austria, work with local manufacturers to produce this device, and with large user organizations to install AEDs on their premises.

The paper develops multi-agent model of innovation that enables one to synthesize key concepts in social and service innovation literatures and, thereby, examine the dynamics of invention and diffusion of social innovations.

The eclectic paradigm as developed by Dunning evolved in response to the changing IB milieu. I argue that this continual expansion threatens to make the paradigm tautological, without an honest “gatekeeper.” Continual expansion to address new lacunae begins to have decreasing returns, either because the gatekeeper cannot expect to have the specialized knowledge, or because the number of extensions makes the final product unwieldy. I propose a return to a basic eclectic paradigm, which I refer to as “EP‐lite,” that can then be complemented by other frameworks and theories as needed. In a similar vein, the growing number of sub‐categories of ownership advantages does not in itself provide greater clarity. Besides, the “correct” definition of what constitute O advantages is relative to the purpose for which it is being used.

Using a continuous dataset, the purpose of this study is to explore the evolution of retailing in the historical city centre of Utrecht between 1974 and 2003.

Following an evolutionary framework entropy statistics and sector analysis are used to investigate the structural changes that have occurred over this period.

The results indicate important changes over time. First, there is a decline of shops selling daily and space consuming goods. Second, the expansion of some sectors and the emergence of new sectors has compensated fully for the loss of these shops. The success of some of these sectors is related to the rise of recreational shopping. Despite increased competition of “out‐of‐town” retailing and other forms of retailing, Utrecht's historical city centre has remained on top of the retail hierarchy in The Netherlands by transforming itself into an attractive location for recreational shopping.

The results indicate that new policies should encourage retail entrepreneurship to adapt to ever changing socio‐economic and spatial contexts. Furthermore, in most sectors that are under pressure, possibilities exist to shift to related categories through what may be called upgrading.

In the main, the data investigate sector dynamics. Future research on the evolution of retail locations using time‐series, therefore, should try to include more variables, like floor space, organisation type, etc. which can also provide explanations for the patterns of structural change.

The paper has introduced entropy statistics as a new technique to analyse sector variety dynamics of retail locations, since it captures both the number of sectors and the skewness of distribution.

The purpose of this study is to explore the early stage of development of a cluster. The literature on early stage of cluster development shows that there are often random effects such as an entrepreneur and spin-off companies, and in this study, a coordinated approach for cluster development is described.

A single exploratory case study approach is followed. The aerospace cluster in the Spokane region, State of Washington, is described. Data from a variety of sources are triangulated to enhance the credibility of the case study findings.

It was found that although there are many types of collaborations occurring in the region, which involve policy and government organizations, the main driver of the early-stage cluster development is manufacturers-led coordinating mechanism. Individual manufacturers are too small to be successful in the aerospace industry, and they are collaborating to present a united “front” to out-of-the-region customers. Once customers place an order, then within this coordinating mechanism, the work is divided among different manufacturers.

The research has two main limitations. First, it is a single case study, and therefore, the results may not be generalizable. Second, the cluster is in an early stage of development, so it is not (yet) clear whether this manufacturers-led coordinated approach will have long-term success.

The studies offer potential for cluster development that go beyond relying on a single entrepreneur or on mostly government- or policy-driven initiatives. Instead, this is an approach that can be used by industry to lift the overall competitiveness of their region.

This cluster development approach offers potential for economic development of smaller regions which mainly consist of small- and medium-sized companies without endowment benefits or a large local customer base.

This study adds to the existing knowledge on clusters and cluster types. The identified cluster approach does not fit with the main types of clusters that have been identified in the literature. The companies involved are mainly small- to medium-sized companies, but by coordinating their capabilities, they are able to present core capabilities in a much more attractive manner to customers. This cluster development approach is not driven by or achieved through advantages in innovation, vertical or horizontal supply chain competition and advantages, creation of spin-off firms, or a regional demand base as customers are located outside the region. It deviates in terms of the types of companies involved and, mostly, in a sense that it acts as one unit to customers who are located outside the region.

To explore the contributions made by two strands of institutional research that have been applied to the study of management accounting change: “old institutional economics” and “new institutional sociology”. To propose ways of developing these theories, and in general to develop an institutional understanding of management accounting change.

Analysis of the literature on management accounting change, with a special emphasis on the literature drawing on institutional theory. Theoretical discussion based on the concept of the “circuits of power”. Illustration with observations made during a case study of an organisation in which attempts to promote change in management accounting were conducted in recent years.

Identification of some complementarities between these two strands of institutional theorising, and suggestions of how they can be developed by drawing on insights from the “circuits of power” framework.

The case study analysis is limited to an illustration of the theoretical discussion. A building of bridges between the various developments in institutional approaches to management accounting change is necessary.

The paper is of value to researchers studying management accounting change. It clarifies the theoretical underpinnings of the institutional frameworks and suggests areas for institutional research into management accounting change.

The purpose of this paper is to examine the writings of Joseph Schumpeter on economic man to demonstrate that Schumpeter is a precursor of personalist economics.

This paper addresses two intertwined questions. What evidence supports the claim that Schumpeter rejected homo economicus? What evidence indicates that Schumpeter actually embraced the human person – the acting person – as a replacement for homo economicus? The evidence is presented in four sections: Schumpeter’s rejection of homo economicus; Schumpeter on economic agency; Schumpeter, a precursor of personalist economics; and final remarks.

As to the first question, there is no doubt that Schumpeter rejected homo economicus. Regarding the second, the evidence does not indicate that Schumpeter proposed replacing homo economicus with what today we refer to as the acting person. This paper concludes that by insisting on the critical role of the active, spontaneous, and eager-to-initiate change entrepreneur in economic affairs and our understanding of those affairs Schumpeter was a precursor of personalist economics.

To a large extent Schumpeter’s insights regarding economic agency and William Waters role in interpreting those insights have been buried in the economics literature. It was Waters in 1952 who stated that Schumpeter identified the inadequacy of economic man as the efficient cause of economic activity and re-established the human person as the true efficient cause, principally in terms of entrepreneurship.

Unemployment is a systemic element of economic development which need not and “normally” does not give rise to full employment of labour regardless of the flexibility in labour markets. This paper aims to address these issues.

The paper presents the common arguments and policy proposals to unemployment put forward by mainstream and Keynesian economics and it continues by exploring the dynamics of economic development and its effects on employment.

The normal utilization of the capital stock is not necessarily associated with any specific level of employment. As a result, even high levels of unemployment may be consistent with the normal (full) employment of capital, and the degree of flexibility in the labour market cannot affect the above result in any significant way.

The dynamics of capital accumulation continually tend to reproduce a stream of displaced workers. Moreover, the liberalization of the labour market in the effort to increase labour flexibility have contributed to the polarization of income distribution and increased the poverty rate.

The acknowledgment that the normal functioning of capitalism is consistent with a rising unemployment rate may provide policy makers with a solid analytical ground upon which more realistic and viable employment policies can be proposed in the effort on the one hand to reduce unemployment and on the other hand to alleviate its adverse effects on the unemployed and on social cohesion.