In search of New Atlantis : What can HET on innovation reveal about the path out of the 2009 great recession?
- Authors: Courvisanos, Jerry
- Date: 2009
- Type: Text , Conference paper
- Relation: Paper presented at 22nd Conference of the History of Economic Thought Society of Australia, University of Notre Dame, Fremantle, Western Australia : 14th-17th July 2009
- Full Text:
- Description: The 2009 “Great Recession” has created a severe collapse of business expectations to coincide with severe financial overexposure. In this economic climate there is the tendency for the private sector to withdraw from investing in the future and for the public sector to seek to protect the major institutions of capitalism. Both lead to the exclusion of innovation and the concomitant deterioration of the accumulation process. In this context, there have been calls by some prescient economists and politicians to recognise this severe downturn as the opportunity for the generation and implementation of new knowledge. Innovation needs to be generated - particularly eco-innovation into sustainable development - and supported with a large public and private accumulation programme. In about 1623, Francis Bacon wrote a fable about a secret undiscovered island, Bensalem, in which scientific progress through innovation (Bacon’s “instauration”) created an idyllic economy where humanity was in concert with nature. This Bacon juxtaposed with another island, Atlantis, which gained wealth and prominence through its domination over nature, until nature took its revenge. From Adam Smith onwards writings on economics have recognised the power of innovation to drive an economy. Using Bensalem as the ideal, this paper appraises visions of innovation and accumulation from various HET schools (especially Neoclassical, Austrian, Schumpeterian, Post-Keynesian, Ecological) to assess what these schools can contribute to development of an ecologically sustainable economic trajectory out of the 2009 Great Recession.
- Description: 2003007361
- Authors: Courvisanos, Jerry
- Date: 2009
- Type: Text , Conference paper
- Relation: Paper presented at 22nd Conference of the History of Economic Thought Society of Australia, University of Notre Dame, Fremantle, Western Australia : 14th-17th July 2009
- Full Text:
- Description: The 2009 “Great Recession” has created a severe collapse of business expectations to coincide with severe financial overexposure. In this economic climate there is the tendency for the private sector to withdraw from investing in the future and for the public sector to seek to protect the major institutions of capitalism. Both lead to the exclusion of innovation and the concomitant deterioration of the accumulation process. In this context, there have been calls by some prescient economists and politicians to recognise this severe downturn as the opportunity for the generation and implementation of new knowledge. Innovation needs to be generated - particularly eco-innovation into sustainable development - and supported with a large public and private accumulation programme. In about 1623, Francis Bacon wrote a fable about a secret undiscovered island, Bensalem, in which scientific progress through innovation (Bacon’s “instauration”) created an idyllic economy where humanity was in concert with nature. This Bacon juxtaposed with another island, Atlantis, which gained wealth and prominence through its domination over nature, until nature took its revenge. From Adam Smith onwards writings on economics have recognised the power of innovation to drive an economy. Using Bensalem as the ideal, this paper appraises visions of innovation and accumulation from various HET schools (especially Neoclassical, Austrian, Schumpeterian, Post-Keynesian, Ecological) to assess what these schools can contribute to development of an ecologically sustainable economic trajectory out of the 2009 Great Recession.
- Description: 2003007361
Innovation policy framework for sustainable development in regional economies : An Australian perspective
- Authors: Courvisanos, Jerry
- Date: 2008
- Type: Text , Conference paper
- Relation: Paper presented at 2008 Pacific Northwest Regional Economic Conference : Spirit of Innovation III Forum, Tacoma, Washington, USA : 14th-16th May 2008
- Full Text:
- Description: The paper develops a broad macroeconomic innovation policy framework for ecologically sustainable economic development that can be applied to regional economies, from the perspective of Australia. Australia is one of the three huge per capita greenhouse emitting nations in the world. The increased frequency of drought and dramatic storms, together with mounting international scientific evidence, has raised the spectre of greenhouse gas emissions significantly deteriorating the economic viability of regional communities. Up until now from a regional perspective, ecological concerns of pollution and resource depletion have generally been part of the overall management approach to agriculture and regional economic development – more successful in some places and some time periods than others, but still part of the existing economic paradigm. Greenhouse is “the inconvenient truth” that now faces all regional communities, but its existing economic paradigm is clearly inappropriate for responding effectively and timely to this ecological concern. A completely different economic framework, based on economic activity that is satisficing (under conditions of ecological uncertainty) rather than optimising (under conditions of calculable risk) is required to address the ecological concerns of the future. An “eco-sustainable framework” is developed in this paper which sets out an innovation policy aimed at satisficing towards sustainable regional development from an Australian high-emission economy perspective. The framework is based on the work of two economists, Micha
- Description: 2003006404
- Authors: Courvisanos, Jerry
- Date: 2008
- Type: Text , Conference paper
- Relation: Paper presented at 2008 Pacific Northwest Regional Economic Conference : Spirit of Innovation III Forum, Tacoma, Washington, USA : 14th-16th May 2008
- Full Text:
- Description: The paper develops a broad macroeconomic innovation policy framework for ecologically sustainable economic development that can be applied to regional economies, from the perspective of Australia. Australia is one of the three huge per capita greenhouse emitting nations in the world. The increased frequency of drought and dramatic storms, together with mounting international scientific evidence, has raised the spectre of greenhouse gas emissions significantly deteriorating the economic viability of regional communities. Up until now from a regional perspective, ecological concerns of pollution and resource depletion have generally been part of the overall management approach to agriculture and regional economic development – more successful in some places and some time periods than others, but still part of the existing economic paradigm. Greenhouse is “the inconvenient truth” that now faces all regional communities, but its existing economic paradigm is clearly inappropriate for responding effectively and timely to this ecological concern. A completely different economic framework, based on economic activity that is satisficing (under conditions of ecological uncertainty) rather than optimising (under conditions of calculable risk) is required to address the ecological concerns of the future. An “eco-sustainable framework” is developed in this paper which sets out an innovation policy aimed at satisficing towards sustainable regional development from an Australian high-emission economy perspective. The framework is based on the work of two economists, Micha
- Description: 2003006404
The ontology of innovation : Human agency in the pursuit of novelty
- Authors: Courvisanos, Jerry
- Date: 2006
- Type: Text , Conference paper
- Relation: Paper presented at the HETSA 2006, Ballarat, Victoria : 4th July, 2006 p. 164-181
- Full Text:
- Reviewed:
- Description: There is a lack of ontology in the study and explication of innovation. Does this matter? It matters because ‘innovation’ has become an important word in the 21st Century, reflecting all that is modern, progressive and exciting in a complex world. This is reflected in every phase of daily existence in modern capitalist economies. Firms are urged to be innovative to gain or sustain a ‘competitive edge’, consultants advertise their strategic advice as the essence of innovation, local communities’ survival depend on the capacity building that comes from innovation, schools are exalted to have innovation in their curriculum, universities promote themselves as leaders in innovation. Politicians respond to the need for supporting all the above through policies for enhancing such innovation in the nation.
- Description: E1
- Description: 2003001806
- Authors: Courvisanos, Jerry
- Date: 2006
- Type: Text , Conference paper
- Relation: Paper presented at the HETSA 2006, Ballarat, Victoria : 4th July, 2006 p. 164-181
- Full Text:
- Reviewed:
- Description: There is a lack of ontology in the study and explication of innovation. Does this matter? It matters because ‘innovation’ has become an important word in the 21st Century, reflecting all that is modern, progressive and exciting in a complex world. This is reflected in every phase of daily existence in modern capitalist economies. Firms are urged to be innovative to gain or sustain a ‘competitive edge’, consultants advertise their strategic advice as the essence of innovation, local communities’ survival depend on the capacity building that comes from innovation, schools are exalted to have innovation in their curriculum, universities promote themselves as leaders in innovation. Politicians respond to the need for supporting all the above through policies for enhancing such innovation in the nation.
- Description: E1
- Description: 2003001806
The political economy R & D
- Authors: Courvisanos, Jerry
- Date: 2006
- Type: Text , Conference paper
- Relation: Paper presented at the International Symposium Knowledge, Finance and Innovation 2006, Dunkerque, France : 26th - 30th September, 2006
- Full Text:
- Reviewed:
- Description: This paper aims to examine the political economy role of R & D in the context of the innovation dilemma between its roles as a knowledge generating processes and the entrenched power that such knowledge creates.
- Description: E1
- Description: 2003001826
- Authors: Courvisanos, Jerry
- Date: 2006
- Type: Text , Conference paper
- Relation: Paper presented at the International Symposium Knowledge, Finance and Innovation 2006, Dunkerque, France : 26th - 30th September, 2006
- Full Text:
- Reviewed:
- Description: This paper aims to examine the political economy role of R & D in the context of the innovation dilemma between its roles as a knowledge generating processes and the entrenched power that such knowledge creates.
- Description: E1
- Description: 2003001826
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