Competition and Innovation
Document Type
Book Chapter
Publication Date
3-1-2013
Abstract
This chapter analyzes selections that have become part of two conflicting views of the relationship between competition and innovation. It examines the seemingly opposing accounts of Joseph Schumpeter and Ken Arrow regarding competition. It looks into Schumpeter's Capitalism, Socialism, and Democracy, and Arrow's Economic Welfare and the Allocation of Resources for Invention. It also explains how their debate has become a stylized blueprint for antitrust discourse.
Keywords
antitrust, competition, Joseph Schumpeter, Ken Arrow, capitalism, welfare
Publication Title
The Making of Competition Policy: Legal and Economic Sources
Repository Citation
Hovenkamp, Herbert, "Competition and Innovation" (2013). Book Chapters. 39.
https://scholarship.law.upenn.edu/faculty_chapters/39
https://doi.org/10.1093/acprof:osobl/9780199782796.003.0009
DOI
https://doi.org/10.1093/acprof:osobl/9780199782796.003.0009