The core theoretical mechanism posits that "Innovationism" serves as the defining structural feature of modern economic history, distinct from pre-industrial static societies characterized by technological stagnation and low prosperity. This framework identifies institutional quality (e.g., secure property rights) as a necessary foundational condition while theorizing shifts in societal attitudes toward entrepreneurial agents—specifically moving away from reverence for conquerors to support for merchants—as the vital spark triggering mass specialization, trade expansion, and sustained innovation cycles within the domain of economic development theory.
The core theoretical mechanism posits that "Innovationism" serves as the defining structural feature of modern economic history, distinct from pre-industrial static societies characterized by technol…