This paper analyzes fundamental features of Schumpeter’s theory of economic development which distinguish two different types of economy – statics and dynamics. Such methodology unlike of neoclassical approaches gives a new vision of driving forces of modern economic development with a crucial role of the innovation technological change.
Keywords: Schumpeter’s theory of economic development, technological paradigm, innovation policy.
DOI: http://dx.doi.org/10.17721/1728-2667.2013/145-4/1
