CFDP 1674

Innovation and Equilibrium?


Publication Date: September 2008

Pages: 16


A discussion is given of the problems involved in the formal modeling of the innovation process. The link between innovation and finance is stressed. The nature of how the circular flow of funds is broken and the role of finance in evaluation and control is discussed.


Innovation, Invention, Circular flow, Finance

JEL Classification Codes: D5, G2, O3


Published in D. Papadimitriou and L.R. Wray, eds., The Elgar Companion to Hyman Minski, Edward Elgar, 2010, pp. 153-168