ABSTRACT
Neo-Schumpeterian economics has to be understood as an evolutionary economic program to fulfil the greater vision of the Schumpeterian economic system. Schumpeterian economics is about the driving forces for economic growth – or more exactly – the driving forces for economic change. Change and development is something different from growth at a deeper perspective, change lies on a lower systematic layer than growth; it needs change for growth, but growth is not needed for change. This is a very crucial point in Schumpeterian analysis, because innovation primarily induces change and development. In orthodox economic terms change is induced via an exogenous shock, changing the equilibrium state of the economy. It is exactly this process that carries the dynamics of an economy in heterodox terms. The Schumpeterian economic system exhibits a progressive analysis of what may change and how it may change; it is about innovation dynamics leading to disequilibria. Orthodox economic theory is inappropriate to describe and explain these specific dynamics.
