Competition and Innovation
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.
antitrust, competition, Joseph Schumpeter, Ken Arrow, capitalism, welfare
The Making of Competition Policy: Legal and Economic Sources
Hovenkamp, Herbert, "Competition and Innovation" (2013). Book Chapters. 39.