Author : Ruth R. Albert
Publisher :
ISBN 13 :
Total Pages : 204 pages
Book Rating : 4.:/5 (615 download)
Book Synopsis A Critical Evaluation of the Theories of Economic Change of Smith, Ricardo, Marx and Schumpeter by : Ruth R. Albert
Download or read book A Critical Evaluation of the Theories of Economic Change of Smith, Ricardo, Marx and Schumpeter written by Ruth R. Albert and published by . This book was released on 1946 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: "It is odd that in any work on economics it should be necessary to discuss the importance of studying economic change. The classical school of political economy never gave the problem a thought; to it the study of economic development was synonymous with the study of all economics itself. However, after Karl Marx there arose a completely new way of approaching this subject: phenomena were now always studied in relation to a static model, from which all element of time was removed. This method of economic analysis was so highly developed and has become so ingrained in the minds of most economists that it now becomes necessary to ask why we should study economic change. An odd state of affairs, indeed! Although Schumpeter re-introduced the subject of economic development in 1911 with the publication of his "Theory of Economic Development" in German, the study of long-run trends has never again become the fashion, economists having recently devoted themselves either to furthering the study of static analysis or to examining the short-run problems of the business cycle. The need for a well-rounded theory of economic development is still great. This thesis attempts to make some contribution by evaluating the work of four outstanding theorists of change: Smith, Ricardo, Marx, and Schumpeter. [...]" --