Key Concepts in Economic Geography is a new kind of textbook that forms part of an innovative set of companion texts for the human geography sub-disciplines. Organized around 20 short essays, this book provides a cutting edge introduction to the central concepts that define contemporary research in economic geography. Involving detailed and expansive discussions, the book includes:
An introductory chapter providing a succinct overview of the recent developments in the field; Over 20 key concept entries with comprehensive explanations, definitions, and evolutions of the subject; Extensive pedagogic features that enhance understanding including figures, diagrams, and further reading
An ideal companion text for advanced undergraduate and graduate students in economic geography, the book presents the key concepts in the discipline, demonstrating their historical roots, and contemporary applications to fully understand the processes of economic change, regional growth and decline, globalization, and the changing locations of firms and industries. Written by an internationally recognized set of authors, the book is an essential addition to any geography student's library.
Chapter 2.1: Innovation
Innovation involves successful commercialization of an invention, a new idea or technology (a bundle of knowledge), the eventual marketing of which contributes to the development of new economic activities and regional economic growth (see Freeman, 1974; Dosi, 1982). The definition of innovation has become broader over the years. Instead of considering as innovations only technological breakthroughs (such as the invention of electric light-bulbs), various forms of innovation are recognized today, including product innovation, process innovation (new ways of making existing products, such as just-in-time production of automobiles), design innovation (new designs/packaging of existing technologies), incremental innovation (as opposed to breakthroughs), and service innovation (e.g. new ways of selling existing products, such as fast-food restaurants). Distinctions are also made between a new-to-the world innovation vs. ...