Schumpeter For Our Century

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Prophet of Innovation

Author : Thomas K. McCraw
Publisher : Harvard University Press
ISBN 13 : 0674736966
Total Pages : 734 pages
Book Rating : 4.6/5 (747 download)

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Book Synopsis Prophet of Innovation by : Thomas K. McCraw

Download or read book Prophet of Innovation written by Thomas K. McCraw and published by Harvard University Press. This book was released on 2010-03-30 with total page 734 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pan Am, Gimbel’s, Pullman, Douglas Aircraft, Digital Equipment Corporation, British Leyland—all once as strong as dinosaurs, all now just as extinct. Destruction of businesses, fortunes, products, and careers is the price of progress toward a better material life. No one understood this bedrock economic principle better than Joseph A. Schumpeter. “Creative destruction,” he said, is the driving force of capitalism. Described by John Kenneth Galbraith as “the most sophisticated conservative” of the twentieth century, Schumpeter made his mark as the prophet of incessant change. His vision was stark: Nearly all businesses fail, victims of innovation by their competitors. Businesspeople ignore this lesson at their peril—to survive, they must be entrepreneurial and think strategically. Yet in Schumpeter’s view, the general prosperity produced by the “capitalist engine” far outweighs the wreckage it leaves behind. During a tumultuous life spanning two world wars, the Great Depression, and the early Cold War, Schumpeter reinvented himself many times. From boy wonder in turn-of-the-century Vienna to captivating Harvard professor, he was stalked by tragedy and haunted by the specter of his rival, John Maynard Keynes. By 1983—the centennial of the birth of both men—Forbes christened Schumpeter, not Keynes, the best navigator through the turbulent seas of globalization. Time has proved that assessment accurate. Prophet of Innovation is also the private story of a man rescued repeatedly by women who loved him and put his well-being above their own. Without them, he would likely have perished, so fierce were the conflicts between his reason and his emotions. Drawing on all of Schumpeter’s writings, including many intimate diaries and letters never before used, this biography paints the full portrait of a magnetic figure who aspired to become the world’s greatest economist, lover, and horseman—and admitted to failure only with the horses.

Schumpeter for Our Century

Author : Horst Hanusch
Publisher : BoD – Books on Demand
ISBN 13 : 389265073X
Total Pages : 246 pages
Book Rating : 4.8/5 (926 download)

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Book Synopsis Schumpeter for Our Century by : Horst Hanusch

Download or read book Schumpeter for Our Century written by Horst Hanusch and published by BoD – Books on Demand. This book was released on 2010 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Joseph Alois Schumpeter

Author : Wolfgang F. Stolper
Publisher : Princeton University Press
ISBN 13 : 0691194491
Total Pages : 424 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis Joseph Alois Schumpeter by : Wolfgang F. Stolper

Download or read book Joseph Alois Schumpeter written by Wolfgang F. Stolper and published by Princeton University Press. This book was released on 2019-01-15 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this major scholarly study of the life of Joseph A. Schumpeter, one of the great intellectual figures of the twentieth century, the distinguished economist Wolfgang Stolper delves into the mind of his former teacher, exploring the development of his ideas and, especially, their influence on politics and public policy. After reflecting briefly on Schumpeter the man, Stolper explains the evolution of Schumpeter's work, particularly his insights during the 1920s on public finance, his contributions to monetary theory and the study of business cycles, and his writings on socialism. Stolper goes on to desribe and evaluate Schumpeter's public activities following World War I and his role as a finance minister, placing the development of his thought in the turbulence political context of his times. Drawing on a vast array of new and exciting sources, Stolper paints a portrait of his mentor as a decent, ambitious, and complex man whose many insights into economy and society found their way outside of the academy and into the practical world of economic policy. All readers interested in the history of economic thought and twentieth-century political and intellectual history will find this book invaluable. Wolfgang Stolper is Professor Emeritus of Economics at the University of Michigan. He is author of The Structure of the East German Economy and Planning Without Facts and has made seminal contributions to international economics. Originally published in 1994. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Capitalism, Socialism, and Democracy

Author : Joseph A. Schumpeter
Publisher : Harper Collins
ISBN 13 : 0061330086
Total Pages : 451 pages
Book Rating : 4.0/5 (613 download)

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Book Synopsis Capitalism, Socialism, and Democracy by : Joseph A. Schumpeter

Download or read book Capitalism, Socialism, and Democracy written by Joseph A. Schumpeter and published by Harper Collins. This book was released on 1950 with total page 451 pages. Available in PDF, EPUB and Kindle. Book excerpt: Capitalism, Socialism and Democracy remains one of the greatest works of social theory written this century. When it first appeared the New English Weekly predicted that for the next five to ten years it will cetainly remain a work with which no one who professes any degree of information on sociology or economics can afford to be unacquainted.' Fifty years on, this prediction seems a little understated. Why has the work endured so well? Schumpeter's contention that the seeds of capitalism's decline were internal, and his equal and opposite hostility to centralist socialism have perplexed, engaged and infuriated readers since the book's publication. By refusing to become an advocate for either position Schumpeter was able both to make his own great and original contribution and to clear the way for a more balanced consideration of the most important social movements of his and our time.

Prophet of Innovation

Author : Thomas K. McCraw
Publisher : Harvard University Press
ISBN 13 : 0674034813
Total Pages : 734 pages
Book Rating : 4.6/5 (74 download)

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Book Synopsis Prophet of Innovation by : Thomas K. McCraw

Download or read book Prophet of Innovation written by Thomas K. McCraw and published by Harvard University Press. This book was released on 2009 with total page 734 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pan Am, Gimbel’s, Pullman, Douglas Aircraft, Digital Equipment Corporation, British Leyland—all once as strong as dinosaurs, all now just as extinct. Destruction of businesses, fortunes, products, and careers is the price of progress toward a better material life. No one understood this bedrock economic principle better than Joseph A. Schumpeter. “Creative destruction,” he said, is the driving force of capitalism. Described by John Kenneth Galbraith as “the most sophisticated conservative” of the twentieth century, Schumpeter made his mark as the prophet of incessant change. His vision was stark: Nearly all businesses fail, victims of innovation by their competitors. Businesspeople ignore this lesson at their peril—to survive, they must be entrepreneurial and think strategically. Yet in Schumpeter’s view, the general prosperity produced by the “capitalist engine” far outweighs the wreckage it leaves behind. During a tumultuous life spanning two world wars, the Great Depression, and the early Cold War, Schumpeter reinvented himself many times. From boy wonder in turn-of-the-century Vienna to captivating Harvard professor, he was stalked by tragedy and haunted by the specter of his rival, John Maynard Keynes. By 1983—the centennial of the birth of both men—Forbes christened Schumpeter, not Keynes, the best navigator through the turbulent seas of globalization. Time has proved that assessment accurate. Prophet of Innovation is also the private story of a man rescued repeatedly by women who loved him and put his well-being above their own. Without them, he would likely have perished, so fierce were the conflicts between his reason and his emotions. Drawing on all of Schumpeter’s writings, including many intimate diaries and letters never before used, this biography paints the full portrait of a magnetic figure who aspired to become the world’s greatest economist, lover, and horseman—and admitted to failure only with the horses.

The Theory of Economic Development

Author : Joseph A. Schumpeter
Publisher : Routledge
ISBN 13 : 1000385892
Total Pages : 206 pages
Book Rating : 4.0/5 (3 download)

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Book Synopsis The Theory of Economic Development by : Joseph A. Schumpeter

Download or read book The Theory of Economic Development written by Joseph A. Schumpeter and published by Routledge. This book was released on 2021-05-16 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: Joseph Schumpeter (1883–1950) is one of the most fascinating and influential economists of the twentieth century, renowned for his brilliant and unorthodox insights into the nature of capitalism. His students include leading economists such as Paul Samuelson, Robert Solow and the former chairman of the Federal Reserve, Alan Greenspan. The Theory of Economic Development is one of Schumpeter's most important books and the one that made him famous. He poses a fundamental question: why does economic development proceed cyclically rather than evenly? Turning prevailing economic theory, which approached economics as equilibrium, on its head, Schumpeter argues it is because economics is constantly transformed by its own internal forces. These forces are the 'circular flow' of economic life; economic development, characterised by disruption and innovation; and finally, the levers that push and pull capitalism including credit, profit and interest. These are all manifested in the ‘business cycle’, one of Schumpeter's major contributions to understanding economics and now a perennial feature of virtually all economics and business curricula. He is also the first economist to place the entrepreneur at the heart of capitalism, anticipating subsequent fascination with entrepreneurship in popular business and management writing. Schumpeter also lays the groundwork for his subsequent, highly influential idea of the 'creative destruction' characteristic of radical and rapid economic change. The Theory of Economic Development remains a vital, magisterial account of economics and the nature of capitalism whose many insights remain highly relevant today. This Routledge Classics edition includes a new Introduction by Richard Swedberg.

Schumpeter’s Capitalism, Socialism and Democracy

Author : Leonardo Burlamaqui
Publisher : Routledge
ISBN 13 : 1317209761
Total Pages : 318 pages
Book Rating : 4.3/5 (172 download)

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Book Synopsis Schumpeter’s Capitalism, Socialism and Democracy by : Leonardo Burlamaqui

Download or read book Schumpeter’s Capitalism, Socialism and Democracy written by Leonardo Burlamaqui and published by Routledge. This book was released on 2018-12-19 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: 2017 marked the seventy-fifth anniversary of Schumpeter’s Capitalism, Socialism and Democracy, a work acknowledged as one of the most insightful books written in the twentieth century. It retains a contemporary quality, and still invites criticisms, new interpretations, and extensions and across disciplines. This book, in addition to re-examining Schumpeter’s seminal work and undertaking a twenty-first-century update of its main themes, brings together leading social scientists to provide contemporary amendments, extensions – or eventually refutations – of key elements of Schumpeter’s vision and thesis. Issues covered include a new take on creative destruction, the contours of a theory of innovative enterprise, finance and financialisation, a critique of the secular stagnation thesis, Schumpeter’s contributions to a theory of the entrepreneurial state, his conception of socialism and its current relevance for understanding the 'China model' as well as a rekindling of his democracy thesis for our times. Bringing together leading international contributors, this book provides fresh perspectives on ideas that continue to be hugely relevant to contemporary social sciences and a guide for understanding the current tensions among capitalism, the state and democracy. These chapters will be of interest to economists, social scientists and anyone with an interest in modern capitalism.

Dynamics of Industrial Capitalism

Author : Richard N. Langlois
Publisher : Routledge
ISBN 13 : 1135982686
Total Pages : 133 pages
Book Rating : 4.1/5 (359 download)

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Book Synopsis Dynamics of Industrial Capitalism by : Richard N. Langlois

Download or read book Dynamics of Industrial Capitalism written by Richard N. Langlois and published by Routledge. This book was released on 2007-02-28 with total page 133 pages. Available in PDF, EPUB and Kindle. Book excerpt: Co-winner of the 2006 Schumpeter Prize of the International Joseph A. Schumpeter SocietyExplaining the shift of the organizational landscape towards more specialized entities connected by markets and networks, this book places the work of Schumpeter and Chandler in a larger theoretical framework.

A Culture of Growth

Author : Joel Mokyr
Publisher : Princeton University Press
ISBN 13 : 0691180962
Total Pages : 424 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis A Culture of Growth by : Joel Mokyr

Download or read book A Culture of Growth written by Joel Mokyr and published by Princeton University Press. This book was released on 2018 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why Enlightenment culture sparked the Industrial Revolution During the late eighteenth century, innovations in Europe triggered the Industrial Revolution and the sustained economic progress that spread across the globe. While much has been made of the details of the Industrial Revolution, what remains a mystery is why it took place at all. Why did this revolution begin in the West and not elsewhere, and why did it continue, leading to today's unprecedented prosperity? In this groundbreaking book, celebrated economic historian Joel Mokyr argues that a culture of growth specific to early modern Europe and the European Enlightenment laid the foundations for the scientific advances and pioneering inventions that would instigate explosive technological and economic development. Bringing together economics, the history of science and technology, and models of cultural evolution, Mokyr demonstrates that culture--the beliefs, values, and preferences in society that are capable of changing behavior--was a deciding factor in societal transformations. Mokyr looks at the period 1500-1700 to show that a politically fragmented Europe fostered a competitive "market for ideas" and a willingness to investigate the secrets of nature. At the same time, a transnational community of brilliant thinkers known as the "Republic of Letters" freely circulated and distributed ideas and writings. This political fragmentation and the supportive intellectual environment explain how the Industrial Revolution happened in Europe but not China, despite similar levels of technology and intellectual activity. In Europe, heterodox and creative thinkers could find sanctuary in other countries and spread their thinking across borders. In contrast, China's version of the Enlightenment remained controlled by the ruling elite. Combining ideas from economics and cultural evolution, A Culture of Growth provides startling reasons for why the foundations of our modern economy were laid in the mere two centuries between Columbus and Newton.

Capitalism and Democracy in the 21st Century

Author : Dennis C. Mueller
Publisher : Springer Science & Business Media
ISBN 13 : 3662112876
Total Pages : 373 pages
Book Rating : 4.6/5 (621 download)

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Book Synopsis Capitalism and Democracy in the 21st Century by : Dennis C. Mueller

Download or read book Capitalism and Democracy in the 21st Century written by Dennis C. Mueller and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: Joseph Schumpeter oscillated in his view about the type of economic system that was most conducive to growth. In his 1911 treatise, Schumpeter argued that a more decentralized and turbulent industry structure where the pro cess of creative destruction was triggered by vigorous entrepreneurial ac tivity was the engine of economic growth. But by 1942 Schumpeter had modified his theory, arguing instead that a more centralized and stable industry structure was more conducive to growth. According to Schum peter (1942, p. 132), under the managed economy there was little room for entrepreneurship because, "Innovation itself is being reduced to routine. Technological progress is increasingly becoming the business of teams of trained specialists who turn out what is required to make it work in pre dictable ways" (p. 132). Schumpeter (1942) reversed his earlier view by arguing that the integration of knowledge creation and appropriation be stowed an inherent innovative advantage upon giant corporations, "Since capitalist enterprise, by its very achievements, tends to automize progress, we conclude that it tends to make itself superfluous - to break to pieces under the pressure of its own success.

Schumpeter's Evolutionary Economics

Author : Esben Sloth Andersen
Publisher :
ISBN 13 : 9781843313342
Total Pages : 0 pages
Book Rating : 4.3/5 (133 download)

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Book Synopsis Schumpeter's Evolutionary Economics by : Esben Sloth Andersen

Download or read book Schumpeter's Evolutionary Economics written by Esben Sloth Andersen and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Schumpeter's Evolutionary Economics fills the void of analysis and serves as a standard reference work on this pioneering thinker by introducing novel interpretations of his five major books and tracing the development of his intellectual framework. Schumpeter's first German book on the nature of theoretical economics (1908) is still untranslated, but it demonstrates how he developed his evolutionary research programme by studying the inherent limitations of equilibrium economics. He presented core results on economic evolution and extended evolutionary analysis to all social sciences in the first German edition of The Theory of Economic Development (1912). He made a partial reworking of the theory of economic evolution in later editions, and this reworking was continued in Business Cycles (1939). Here Schumpeter also tried to handle the statistical and historical evidence on the waveform evolution of the capitalist economy. Capitalism, Socialism and Democracy (1942) modified the model of economic evolution and added evolutionary contributions to other social sciences. Finally, History of Economic Analysis, published posthumously, was based on his evolutionary theory of the history of economics. Andersen's analysis of Schumpeter's five books expounds the progress he made within his research programme, and examines his lack of satisfactory tools for evolutionary analysis. In so doing it places our understanding of Schumpeter on a new and firmer footing; it also suggests how modern evolutionary economics can relate to his work.

Joseph A. Schumpeter

Author : Richard Swedberg
Publisher : John Wiley & Sons
ISBN 13 : 0745668704
Total Pages : 444 pages
Book Rating : 4.7/5 (456 download)

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Book Synopsis Joseph A. Schumpeter by : Richard Swedberg

Download or read book Joseph A. Schumpeter written by Richard Swedberg and published by John Wiley & Sons. This book was released on 2013-05-02 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: Joseph A. Schumpeter (1883-1950) is one of the most celebrated authors on the economics and sociology of the twentieth century. Richard Swedberg's new biography provides an engaging and vivid account of Schumpeter's varied life, including his ventures into politics and private banking as well as his academic career. As a backdrop to these, Swedberg also discusses Schumpeter's tragic personal life. This book provides a thorough overview of Schumpeter's writings, and also introduces previously unpublished material based on his letters and interviews. Swedberg emphasizes that Schumpeter saw economics as a form of social investigation, consisting of four fields: economic theory, economic sociology, economic history and statistics. The author describes and analyses Schumpeter's theory of social classes and modern states as well as his more famous theory of the entrepreneur.

Business Cycles

Author : Joseph Alois Schumpeter
Publisher : Martino Fine Books
ISBN 13 :
Total Pages : 474 pages
Book Rating : 4.3/5 (555 download)

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Book Synopsis Business Cycles by : Joseph Alois Schumpeter

Download or read book Business Cycles written by Joseph Alois Schumpeter and published by Martino Fine Books. This book was released on 2006 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published: 1st ed. New York: McGraw-Hill Book Co., 1939.

The Nature and Essence of Economic Theory

Author : Joseph A. Schumpeter
Publisher : Routledge
ISBN 13 : 1351478923
Total Pages : 367 pages
Book Rating : 4.3/5 (514 download)

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Book Synopsis The Nature and Essence of Economic Theory by : Joseph A. Schumpeter

Download or read book The Nature and Essence of Economic Theory written by Joseph A. Schumpeter and published by Routledge. This book was released on 2017-09-08 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt: Joseph A. Schumpeter was a monumental figure in the history and development of economics. This work brings together his brilliant lectures, delivered more than a century ago, in its first English-language paperback edition. Here, readers will discover Schumpeter's search for an economic science devoid of moral or political dogma. The Nature and Essence of Economic Theory works out what people should think of pure economics, what its nature is, what its methods and findings are, and where thought takes off from there. The book shows the limitations and weaknesses of nineteenth-century economics and how the field could be and was improved by establishing a fundamental differentiation between 'statistics' and 'dynamics'. To convey his arguments, Schumpeter uses certain axioms that form a consistent, self-contained system and show how sound economic science is based on facts and events rather than presuppositions or definitions. Schumpeter's larger aim, beyond a pedagogic tool, was to deduce changes in the market, trade, and exchange of goods and services. He defined the task of economy as the description of the system and its change tendencies. If that can be achieved unequivocally, without resorting to doctrine or dogma, then the field can be considered self-contained.

Marshall and Schumpeter on Evolution

Author : Yuichi Shionoya
Publisher : Edward Elgar Publishing
ISBN 13 : 1848446160
Total Pages : 297 pages
Book Rating : 4.8/5 (484 download)

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Book Synopsis Marshall and Schumpeter on Evolution by : Yuichi Shionoya

Download or read book Marshall and Schumpeter on Evolution written by Yuichi Shionoya and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of essays offers a fresh and challenging interpretation which departs from the received views of two giants among the greatest economists of all times. Distinguished scholars of Marshall and Schumpeter engage in a lively discussion of their work and convincingly argue that, despite their differences, they shared a common drive towards a broader type of social science beyond economics. It is an intriguing account that will not fail to attract and fascinate the majority of readers. Maria Cristina Marcuzzo, Università di Roma, Italy Ever since the development of the theory of biological evolution in the middle of the nineteenth century, evolutionary doctrine has posed challenges to economics. These came directly from the work of Darwin and Huxley and indirectly through economic history and the juxtaposition of dynamics with comparative statics the approach widely adopted by economists by the end of the century. The eminent historians of economics, Yuichi Shionoya and Tamotsu Nishizawa, together with a distinguished team of specialists, have produced an important set of essays that examine the positions on evolution of Marshall and Schumpeter and the economists who surrounded them. This collection is a valuable contribution to the history of economics and is highly relevant to controversies that rage still in the economics discipline today. Craufurd Goodwin, Duke University, US Traditionally it was understood that while Marshall was the synthesizer of neoclassical economics, Schumpeter challenged the dynamic conception of the economy in place of the static structure of economics. While historians of economic thought rarely discuss the work of Alfred Marshall and Joseph Schumpeter jointly, the contributors to this book do exactly this from the perspective of evolutionary thought. This unique and original work contends that, despite the differences between Marshallian and Schumpeterian thinking, they both present formidable challenges to a broad type of social science beyond economics, particularly under the influence of the German historical school. In a departure from the received view on the nature of the works of Marshall and Schumpeter, the contributors explore their themes in terms of an evolutionary vision and method of evolution; social science and evolution; conceptions of evolution; and evolution and capitalism. This timely resource will provide a stimulus not only to Marshall and Schumpeter scholarship within the history of economic thought but also to the recent efforts of economists to explore a research field beyond mainstream equilibrium economics. It will therefore prove a fascinating read for academics, students and researchers of evolutionary and heterodox economics and historians of economic thought.

Joseph A. Schumpeter

Author : John Medearis
Publisher : Bloomsbury Publishing USA
ISBN 13 : 1441182799
Total Pages : 193 pages
Book Rating : 4.4/5 (411 download)

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Book Synopsis Joseph A. Schumpeter by : John Medearis

Download or read book Joseph A. Schumpeter written by John Medearis and published by Bloomsbury Publishing USA. This book was released on 2009-05-15 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: Joseph Schumpeter (1883 - 1950) was one of the foremost economic thinkers of the twentieth century. Today Schumpeter is most well-known for his idea of 'creative destruction'. This is the notion that a market economy is simultaneously creative and destructive and therein lies the process of renewal that is central to the endurance and also the unpopularity of capitalism. Schumpeter's work also contains one of the most important conservative critiques of mass democracy. Schumpeter argued that mass democracy had totalitarian tendencies and was likely to degenerate into the tyranny of the popular.

The Theory of Economic Development

Author : Joseph Alois Schumpeter
Publisher : Transaction Publishers
ISBN 13 : 9780878556984
Total Pages : 324 pages
Book Rating : 4.5/5 (569 download)

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Book Synopsis The Theory of Economic Development by : Joseph Alois Schumpeter

Download or read book The Theory of Economic Development written by Joseph Alois Schumpeter and published by Transaction Publishers. This book was released on 1983 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: Schumpeter proclaims in this classical analysis of capitalist society first published in 1911 that economics is a natural self-regulating mechanism when undisturbed by "social and other meddlers." In his preface he argues that despite weaknesses, theories are based on logic and provide structure for understanding fact. Of those who argue against him, Schumpeter asks a fundamental question: "Is it really artificial to keep separate the phenomena incidental to running a firm and the phenomena incidental to creating a new one?" In his answers, Schumpeter offers guidance to Third World politicians no less than First World businessman. In his substantial new introduction John E. Elliott discusses the salient ideas of The Theory of Economic Development against the historical background of three great periods of economic thought in the last two decades.