Financing investment in industrial innovation

Abstract

In 1982, Schumpeter outlines his theory of real competition in which technological innovation is not only a competitive weapon to conquer new markets, but also mainly responsible for structural changes through the process of creative destruction. He has in mind that the capitalist economy is, above all, an evolutionary economics in which technological innovations, such as new forms of combinations of means of production, are inducers of capitalist economic development. In this context, the economic terms of employment of productive resources, drawn from conventional uses coming up with one point in new uses hitherto untested in practice, able to produce new products and production processes through new combinations of material and productive forces, that is, technological innovations, ie economic development in the Schumpeterian sense is a distinct phenomenon and entirely foreign to what can be observed in the circular flow or in the tendency to equilibrium, since starting on producer and not the consumer, despite its importance. In this context, the main objective of this article is to highlight the specificity of funding investments in technological innovations.