Series editor(s): Sherry Hoskinson and Donald Kuratko
Subject Area: Enterprise and Innovation
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|Author(s):||Gary D. Libecap|
|Volume:||17 Editor(s): Guus Berkhout, Patrick Van Der Duin, Dap Hartmann, Roland Ortt ISBN: 978-0-7623-1336-5 eISBN: 978-1-84950-433-1|
|Citation:||Gary D. Libecap (2007), Introduction, in Guus Berkhout, Patrick Van Der Duin, Dap Hartmann, Roland Ortt (ed.) The Cyclic Nature of Innovation: Connecting Hard Sciences with Soft Values (Advances in the Study of Entrepreneurship, Innovation & Economic Growth, Volume 17), Emerald Group Publishing Limited, pp.1-3|
|DOI:||10.1016/S1048-4736(07)17011-9 (Permanent URL)|
|Publisher:||Emerald Group Publishing Limited|
|Article type:||Chapter Item|
Sustained modern economic growth is less than 300 years old. Most of the human experience has been a Malthusian one – brief periods of relative plenty for some, followed by collapse due to famine, drought, or other exogenous factors, or due to internal factors such as war or excessive population growth that outstripped the resource base. In all cases, general productivity growth was short term and minimal and each society's well-being was tied inexorably to the condition and stock of natural resources.
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