Theory of Innovation and Causal Dynamics

Abstract

The theories of technological change generally fall into tw[1] S. Ramesh, “Theory of Innovation and Causal Dynamics,” in The Rise of Empires: The Political Economy of Innovation, Cham: Springer International Publishing, 2018, pp. 1[1] S. Ramesh, “Theory of Innovation and Causal D.o categories. These include the Demand-pull and the Technology Push theories associated with technological change. Which of these two theories hold as implications not only for the determinants of how demand varies over time, but also for the determinants of innovation? Moreover, changes in the level of innovative activity are a result of changes in demand, and are not the reason for the volatility of demand. This knowledge is useful in pinpointing the actual causes of the changes in innovative activity.