COWLES FOUNDATION FOR RESEARCH IN
ECONOMICS Box 208281
COWLES FOUNDATION DISCUSSION PAPER NO. 1881 Cost Innovation: Schumpeter and Equilibrium. Martin Shubik and William Sudderth December 2012 The control structure over money and real assets is considered in the
process of cost innovation. The work here contrasts with the first part of this paper
where the emphasis was on the physical aspects of innovation. Here the emphasis is
primarily on the money supply aspects of innovation. We conclude with observations on
evaluation and the locus of control in the process of innovation. |
