The determinants of innovation: Market demand,technology, and the response to social problems |
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| Authors: | Christopher Freeman |
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| Institution: | Christopher Freeman is Director of the Science Policy Research Unit, University of Sussex, Falmer, Brighton BN1 9RF, UK |
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| Abstract: | Market demand is not necessarily the sole, or even the principal, determinant of the scale and direction of inventive and innovative activity—still less of scientific activity. Recent research shows that the influence of the market may vary greatly, with cyclic changes (birth, growth, and decline) and discontinuities in industry. In addition, chance plays a far greater role in competitive survival and growth than it is comfortable to admit. |
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