How do we conquer the growth limits of capitalism? Schumpeterian Dynamics of Open Innovation
By JinHyo Joseph Yun. 2015
206 citations recorded by the source corpus.
The purpose of this study is to answer the research question, “How do we conquer the growth limits of capitalism?” Based on existing studies on growth limits of capitalism by Marx and Schumpeter as well as the recent discussions of Drucker, Rifkin, and Piketty, the dynamic model of an open innovation economy system (OIES) is proposed as an answer to this research question.OIES consists of an open innovation economy, closed innovation economy, and social innovation economy. The dynamics of OIES occurs from the positive interaction among the open innovation economy, closed innovation economy, and social innovation economy. The dynamics of the OIES circle are from an open innovation economy, through a closed innovation economy and social innovation economy, and back to an open innovation economy again. In addition, the validation of the model for the dynamics of OIES is improved by simulating the life cycle of the dynamics of OIES, low-level OIES dynamics, and high-level OIES dynamics, and by inquiring about a practical economic system corresponding to each simulation situation. Next through a comparative discussion between the linear steps of Schumpeter 1 and 2, and Socialist Democracy, and the dynamics of an open Innovation economic system, the practical and theoretical characteristics of the dynamics of OIES are clearly defined. Finally, the limits of this study and a follow-up research project are presented in addition to a summary of the discussion.
Subfields: Marketing, Sociology and Political Science, Strategy and Management
View Paper: https://www.semanticscholar.org/paper/35908285e57cbdeeba5c050ea3e4d59cbe0cc54a
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Citations in the corpus
- Does Social Media Use Influence Entrepreneurial Opportunity? A Review of its Moderating Role (2017, background): “The benefits of social media have been proven empirically in many studies, and it continues to offer considerable promise [60].”
- Micro- and Macro-Dynamics of Open Innovation with a Quadruple-Helix Model (2019, background): “This is consistent with Yun’s model of the open innovation economy system [2].”
- How to Respond to the Fourth Industrial Revolution, or the Second Information Technology Revolution? Dynamic New Combinations between Technology, Market, and Society through Open Innovation (2018, background): “That is, it is possible for a business model that meets social demands to create social values and market values through a rapid dynamic process [36].”