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Munich Personal RePEc Archive

Development of Innovation in Economics

Kouam, H and Mua, K (2023): Development of Innovation in Economics. Published in: Open Access Library Journal , Vol. 10, No. 6 (21 June 2023): pp. 1-10.

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Abstract

This theory presents the theory of innovation in the attainment of economic sciences. It equally reviews economic literature and investigates innovation from different economic models. It first begins with the analysis of views on classical economics, including Adam Smith and David Ricardo. This is followed by discussions on theory in innovation today, as handled in the knowledge-based economy. Analyzing the achievements in economic thought outlines that innovation's importance and relevance has grown over the last decade.

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