TITLE:
Development of Innovation in Economics
AUTHORS:
Henri Kouam, Kelly Mua Kingsley
KEYWORDS:
Innovation, Economic Growth, Progress, Economic Models
JOURNAL NAME:
Open Access Library Journal,
Vol.10 No.6,
June
30,
2023
ABSTRACT: This theory presents the theory of innovation in the attainment of economic sciences. It equally reviews economic literature and investigates innovation from different economic models. It first begins with the analysis of views on classical economics, including Adam Smith and David Ricardo. This is followed by discussions on theory in innovation today, as handled in the knowledge-based economy. Analyzing the achievements in economic thought outlines that innovation’s importance and relevance has grown over the last decade.