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Journal of Open Innovation: Technology, Market, and Complexity is published by MDPI from Volume 4 Issue 2 (2018). Previous articles were published by another publisher in Open Access under a CC-BY (or CC-BY-NC-ND) licence, and they are hosted by MDPI on mdpi.com as a courtesy and upon agreement with Springer.
Article

How do we conquer the growth limits of capitalism? Schumpeterian Dynamics of Open Innovation

IOT and ROBOT Convergence Division and Innovation Management Program, Daegu Gyeongbuk Institute of Science and Technology (DGIST), 333 Techno Jungang-daero Hyeonpung-myeon, Dalseong-gun, Daegu 711-873, South Korea
J. Open Innov. Technol. Mark. Complex. 2015, 1(2), 17; https://0-doi-org.brum.beds.ac.uk/10.1186/s40852-015-0019-3
Received: 23 April 2015 / Accepted: 26 October 2015 / Published: 10 November 2015
The purpose of this study is to answer the research question, “How do we conquer the growth limits of capitalism?” Based on existing studies on growth limits of capitalism by Marx and Schumpeter as well as the recent discussions of Drucker, Rifkin, and Piketty, the dynamic model of an open innovation economy system (OIES) is proposed as an answer to this research question.
OIES consists of an open innovation economy, closed innovation economy, and social innovation economy. The dynamics of OIES occurs from the positive interaction among the open innovation economy, closed innovation economy, and social innovation economy. The dynamics of the OIES circle are from an open innovation economy, through a closed innovation economy and social innovation economy, and back to an open innovation economy again. In addition, the validation of the model for the dynamics of OIES is improved by simulating the life cycle of the dynamics of OIES, low-level OIES dynamics, and high-level OIES dynamics, and by inquiring about a practical economic system corresponding to each simulation situation. Next through a comparative discussion between the linear steps of Schumpeter 1 and 2, and Socialist Democracy, and the dynamics of an open Innovation economic system, the practical and theoretical characteristics of the dynamics of OIES are clearly defined. Finally, the limits of this study and a follow-up research project are presented in addition to a summary of the discussion.
Keywords: Open innovation economy system, Dynamics, Open innovation, Closed innovation, Social innovation Open innovation economy system, Dynamics, Open innovation, Closed innovation, Social innovation
MDPI and ACS Style

Yun, J.J. How do we conquer the growth limits of capitalism? Schumpeterian Dynamics of Open Innovation. J. Open Innov. Technol. Mark. Complex. 2015, 1, 17. https://0-doi-org.brum.beds.ac.uk/10.1186/s40852-015-0019-3

AMA Style

Yun JJ. How do we conquer the growth limits of capitalism? Schumpeterian Dynamics of Open Innovation. Journal of Open Innovation: Technology, Market, and Complexity. 2015; 1(2):17. https://0-doi-org.brum.beds.ac.uk/10.1186/s40852-015-0019-3

Chicago/Turabian Style

Yun, JinHyo Joseph. 2015. "How do we conquer the growth limits of capitalism? Schumpeterian Dynamics of Open Innovation" Journal of Open Innovation: Technology, Market, and Complexity 1, no. 2: 17. https://0-doi-org.brum.beds.ac.uk/10.1186/s40852-015-0019-3

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