A prelude to the Creation Process of novelty in Economic Development and Entrepreneurship

Document Type : Research Paper

Author

Professor, Faculty of Economic, University of Tehran

Abstract

Novelty or the pure and unique creation is the profoundest item in economic development and entrepreneurship in every country. However, there is no consensus regarding the process of creation of novelty among economists so that “Schumpeter” used the term “impossible” to define this unknowable process because this subject cannot be described within the theoretical framework of orthodox conceptual rationality. Considering the importance and necessity of novelty creation for the process of development, this article attempts to explain the process of novelty creation in economic development and entrepreneurship. According to this paper, the process of novelty creation necessitates three key principles: mind freedom, individual differences in mental capabilities, need to unique training and imagination power of individuals. Policy recommendations are suggested in the conclusion sector

Keywords

References

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Journal of Entrepreneurship Development
Volume 9, Issue 1 - Serial Number 31
August 2016
Pages 177-195

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