Systems of Innovation and Economic Theory – a Genealogical Approach

This paper traces the development of thought on the economics of innovation from perspective of discourse formations in order to assess the placement of the system of innovation approach in economic theory. In order to do this, a genealogical approach is used in order to chart the development of the study of innovation within an evolutionary perspective, in relation to the evolution of liberal, neoclassical and neoliberal economics. This approach brings out the complementarities and contradictions in the relationship between the system of innovation approach and mainstream economic theory.