An analysis of Joseph Schumpeter's life, concept of innovation, and application for Estonia

Putthiwanit, Chutinon (2016): An analysis of Joseph Schumpeter's life, concept of innovation, and application for Estonia.

Abstract

This research studies a basic concept of Schumpeterian Theory by exploring the life of Joseph Schumpeter and the application for Estonia. The secondary data were taken from World Values Survey (WVS); a worldwide group of researchers observing global values and their effect on society as a whole with headquarters in Sweden. Author took the most recent data of WVS in wave six (year 2010-2014) with the total of 74,042 cases for analysis. An analysis was performed by multiple regressions and no multicollinearity problems were detected. The results show that the nature of tasks (both manual vs. intellectual and routine vs. creative) affects the importance of employees being creative. Further analysis was performed by an independent pair sample T-test and the result shows that there are differences in the nature of tasks (both manual vs. intellectual and routine vs. creative) of Estonian and global employees. Subsequently, the final analysis was performed to explore the difference in the nature of tasks in intellectual and creative Estonian and global employees. However, there is no difference in this aspect between them.

• Item Type: MPRA Paper
• Language: English
• Keywords: Innovation; Schumpeterian Theory; Secondary Data; Intellectual; Creative; Creativity; Workplace; Estonia
• Subjects: L - Industrial Organization > L2 - Firm Objectives, Organization, and Behavior > L20 - General; O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O30 - General; O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O31 - Innovation and Invention: Processes and Incentives

References

Ābeitiņa, A. (2008). Inovācija – XXI Gadsimta Fenomens. 1st edition. Rīga: Biznesa Augstskola Turība.

Croitoru, A. (2012). Schumpeter, J. A., 1934 (2008), The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle, Translated from the German by Redvers Opie, New Brunswick (U.S.A.) and London (U.K.): Transaction Publishers: A Review to a Book that is 100 Years Old. Journal of Comparative Research in Anthropology and Sociology, 3(2), 137-148.

Fagerberg, J. (2009). A Guide to Schumpeter. In Østreng, W. (eds.) Confluence: Interdisciplinary Communications 2007/2008. Oslo: Center for Advanced Study, 20-22.

Foster, J. B. (1983). Theories of Capitalist Transformation: Critical Notes on the Comparison of Marx and Schumpeter. The Quarterly Journal of Economics, 98(2), 327-331.

Groenewegen, P. D. (2010). Joseph Alois Schumpeter (1883-1950): A Century Tribute. Retrieved from http://www.hetsa.org.au/pdf-back/4-A-5.pdf, date: 05.16.2015.

Hagemann, H. (2013). Schumpeter's Theory of Economic Development. Retrieved from http://www.ekfak.kg.ac.rs/sites/default/files/download/Kragujevac%2013-03-13%20schumpeter.pdf, date: 06.01.2015.

Hofstede, G., Hofstede, G. J. & Minkov, M. (2010). Cultures and Organizations: Software of the Mind: Intercultural Cooperation and Its Importance for Survival. 3rd edition. New York: McGraw-Hill.

Jensen, H. E. (1985). J. A. Schumpeter on Economic Sociology. Eastern Economic Journal, 11(3), 257-266.

Jordan, P. (2014). Nation Branding: A Tool for Nationalism? Journal of Baltic Studies, 45(3), 283-303.

L. S. (2013). Estonia’s Technology Cluster: Not only Skype. Retrieved from http://www.economist.com/blogs/schumpeter/2013/07/estonias-technology-cluster, date: 06.01.2015.

Mee, S. (2009). Joseph Schumpeter and the Business Cycle: An Historical Synthesis. Retrieved from https://www.tcd.ie/Economics/assets/pdf/SER/2009/simon_mee.pdf, date: 05.17.2015.

Schumpeter, J. A. (1928). The Instability of Capitalism. The Economic Journal, 38(151), 361-386.

Schumpeter, J. A. (2006). History of Economic Analysis. Oxfordshire: Taylor & Francis.

Schumpeter, J. A. (2008). The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle. New Jersey: Transaction.

Smithies, A. (1950). Memorial: Joseph Alois Schumpeter 1883-1950. The American Economic Review, 40(4), 628-648.

Tidd, J. & Bessant, J. (2013). Managing Innovation: Integrating Technological, Market, and Organizational Change. 5th edition. West Sussex: John Wiley & Sons.

V. D. (2012). Start-ups in Estonia: Baltic Green Shoots. Retrieved from http://www.economist.com/blogs/schumpeter/2012/01/start-ups-estonia, date: 06.01.2015.

Witt, U. (2002). How Evolutionary is Schumpeter’s Theory of Economic Development?. Industry and Innovation, 9(1/2), 7-22.

World Values Survey. (n.d. a). Who We Are. Retrieved from http://www.worldvaluessurvey.org/WVSContents.jsp, date: 05.16.2015.

World Values Survey. (n.d. b). Who We Do. Retrieved from http://www.worldvaluessurvey.org/WVSContents.jsp, date: 05.17.2015.