MINSKY MEETS PORTER

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dc.contributor.authorErkut, Burak
dc.contributor.otherEkonomická fakultacs
dc.date.accessioned2022-12-12T11:20:20Z
dc.date.available2022-12-12T11:20:20Z
dc.description.abstractHyman P. Minsky and Michael E. Porter have developed theories of economic development independently from each other, both being influenced by Joseph A. Schumpeter in different ways. In this contribution, the author focuses on understanding the similarities and differences between these two approaches based on their epistemological, ontological and ethical-political perspectives, also by identifying how they are related to each other in a particular type of economic development named as ‘money-manager capitalism’ in Minsky’s framework and ‘wealth-driven competitive stage’ in Porter’s. The approach starts by describing the Porterian and Minskyan perspectives, moves on to analyzing them from their epistemological, ontological and ethical-political perspectives, and it also questions how these two phenomena are related by pointing out to the common Schumpeterian perspectives as well as fundamental differences between the two. The contribution concludes by stating that even though differences are present, both approaches are Schumpeterian in their own way – and describe a similar end to competitive development, one that is based on managing accumulated wealth. This is related to two distinctive areas in economics and administrative sciences: Firstly, it shows how the two scholars’ ideas are related with a possible source of influence, contributing to history of economic thought. Secondly, it shows the fate of economies once they innovate and become innovation driven; over time, income generated from innovation becomes a source of concern, and influences the risk-taking behavior of the economic system for the sake of protecting the income. In this way, the approach contributes to countries’ competitive positions and how two important scholars of economics and administrative sciences observe the start of the decline.en
dc.formattext
dc.identifier.doi10.15240/tul/001/2022-4-004
dc.identifier.eissn2336-5604
dc.identifier.issn1212-3609
dc.identifier.urihttps://dspace.tul.cz/handle/15240/166299
dc.language.isoen
dc.publisherTechnická Univerzita v Libercics
dc.publisherTechnical university of Liberec, Czech Republicen
dc.publisher.abbreviationTUL
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dc.relation.ispartofEkonomie a Managementcs
dc.relation.ispartofEconomics and Managementen
dc.relation.isrefereedtrue
dc.rightsCC BY-NC
dc.subjectMinskyen
dc.subjectPorteren
dc.subjectSchumpeteren
dc.subjectcompetitive advantage of nationsen
dc.subjectevolution of capitalismen
dc.subjectPorter’s diamonden
dc.subject.classificationB25
dc.subject.classificationE14
dc.titleMINSKY MEETS PORTERen
dc.typeArticleen
local.accessopen
local.citation.epage72
local.citation.spage58
local.facultyFaculty of Economics
local.filenameEM_4_2022_4
local.fulltextyes
local.relation.abbreviationE+Mcs
local.relation.abbreviationE&Men
local.relation.issue4
local.relation.volume25
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