Mises Daily
Author:
Peter Beukelman
Online Publish Date:
seen the light of day. It is espoused by Alfred Kleinknecht, a professor in the Economics of Innovation Department at Delft University of Technology. According to discourages product and process innovation, which in turn reduces productivity growth. Reduced innovation efforts and productivity growth, he argues, will have a negative impact on economic performance and employment for any open economy (p. 387). More specifically,