"Schumpeter emphasizes a “demand-side” explanation for such clustering of innovation. One might also consider a complemen tary “supply-side” explanation: since innovators are, in many cases, working with the same components, it is not surprising to see simultaneous innovation, with several innovators coming up with essentially the same invention at almost the same time. There are many well-known examples, including the electric light, the airplane, the automobile, and the telephone."
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Politicians from AustriaAcademics from AustriaGovernment ministersFinance ministersEconomists from Austria
Original Language: English
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Hal R. Varian, Part I. "Competition and market power", in The Economics of Information Technology: An Introduction (2004) by Hal R.Varian, Joseph Farrell and Carl Shapiro
https://en.wikiquote.org/wiki/Joseph_Schumpeter
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Joseph Schumpeter
Joseph Alois Schumpeter (February 8, 1883 – January 8, 1950) was an economist from Austria and an influential political scientist.
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