Download or read book Schumpeter in the History of Ideas written by Yūichi Shionoya and published by University of Michigan Press. This book was released on 1994 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Capitalism Socialism and Democracy written by Joseph A. Schumpeter and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explores the relation between a socialist view of society and the democratic method of government; argues that socialism is probably inevitable, for political rather than economic reasons. The book developes five principal themes, presented in five parts. Part I, "The Marxian Doctrine," attests to Schumpeter's belief in the importance of Karl Marx's thought, and discusses Marx in the roles of prophet, sociologist, economist, and teacher. His strength lay in synthesis of history, economics, and politics into a vision and system (which Schumpeter admires) that that can be used for solving problems and contributing to knowledge and insight; the value of Marx's theories and conclusions are found wanting. Part II "Can Capitalism Survive?" shows that a socialist form of society will inevitably emerge from the inevitable decomposition of capitalist society. Essential to capitalism is the process of "creative destruction," which constantly revolutionizes the system from within; this revolutionary transformation of capitalism, which spells its doom, results from its success--not, as Marx argued, from its failure. In Schumpeter's view of capitalism, monopolistic policies promote stability and increase efficiency; unemployment and business cycles accompany economic growth; and without political interference, output would increase and standard of living increase. The entrepreneurial function, which revolutionizes production by exploiting innovation, becomes routine and obsolete due to technical development and rise of big firms; the entrepreneur becomes a bureaucrat. Without innovating enterprise, profit will vanish or become unimportant. Capitalism's success undermines the social conditions that protect it. Capitalism will not survive because public opinion will not support it: the bourgeoisie is not equipped for politics; corporate evolution and decline of the family have reduced the bourgeois sense of property and incentives; destruction of monarchy and aristocracy have deprived the bourgeois of its protectors; and disenchanted intellectuals inflame discontent with free enterprise. Establishment of socialism can be expected. Part III, "Can Socialism Work?" answers, "Of course it can." Socialism for Schumpeter is centralized control over the means of production. Necessary for the success of socialism is reaching the requisite stage of industrial development and resolution of transitional problems. The assessment of a socialist society should be based less on economic efficiency than on the quality of the bureaucratic apparatus operating the system. Socialism may likely be as successful in satisfying consumers, promoting economic progress, and enforcing discipline and efficiency. Part IV, "Socialism and Democracy" argues one can have autocratic, theocratic, or democratic socialism. Socialism's economic problem should only be discussed referring to the given state of the social environment and historical situation. Schumpeter alternatively defines democracy as people's selection of a government. Socialism may be democratic if certain conditions are met: politics must be culturally valued, range of political decisions must be fairly narrow, a well-trained bureaucracy exists, and the public exercises democratic self control. Part V, "Historical Sketch of Socialist Parties" analyzes the history of the most important socialist parties in England, Sweden, U.S., France, Germany, and Austria, emphasizing how they tried to live within the structure of a Marxist system and to remain alive and grow politically. Socialism, though, is likely to present fascist features. (TNM).

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.

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.

Download or read book Joseph Alois Schumpeter written by Jürgen G. Backhaus and published by Springer Science & Business Media. This book was released on 2006-04-11 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: Joseph Alois Schumpeter is arguably the most important economist of the 20th century. Most readers are familiar with his Theory of Economic Development and his classic Capitalism, Socialism and Democracy. Less well-known are his seminal works published before he left Europe for the United States in 1942. In particular for the first time the missing Chapter Seven of his Theory of Economic Development has been published in this volume. It tries to put Economic Development into the broader context of culture, law and policy. Many of his earlier writings display a similar integrative approach and are therefore often treated as sociological writings. As Capitalism, Socialism and Democracy shows, he did not dissociate the different social sciences in his own mind but rather strove to keep the unity of the social sciences. Entrepreneurship, style and vision are the unifying concepts of his work.

Download or read book Imperialism and Social Classes written by Joseph A. Schumpeter and published by Ludwig von Mises Institute. This book was released on 1972 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: Joseph Schumpeter was not a member of the Austrian School, but he was an enormously creative classical liberal, and this 1919 book shows him at his best. He presents a theory of how states become empires and applies his insight to explaining many historical episodes. His account of the foreign policy of Imperial Rome reads like a critique of the US today. The second essay examines class mobility and political dynamics within a capitalistic society. Overall, a very important contribution to the literature of political economy.

Download or read book The Theory of Economic Development written by Joseph A. Schumpeter and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Schumpeter first reviews the basic economic concepts that describe the recurring economic processes of a commercially organized state in which private property, division of labor, and free competition prevail. These constitute what Schumpeter calls "the circular flow of economic life," such as consumption, factors and means of production, labor, value, prices, cost, exchange, money as a circulating medium, and exchange value of money. The principal focus of the book is advancing the idea that change (economic development) is the key to explaining the features of a modern economy. Schumpeter emphasizes that his work deals with economic dynamics or economic development, not with theories of equilibrium or "circular flow" of a static economy, which have formed the basis of traditional economics. Interest, profit, productive interest, and business fluctuations, capital, credit, and entrepreneurs can better be explained by reference to processes of development. A static economy would know no productive interest, which has its source in the profits that arise from the process of development (successful execution of new combinations). The principal changes in a dynamic economy are due to technical innovations in the production process. Schumpeter elaborates on the role of credit in economic development; credit expansion affects the distribution of income and capital formation. Bank credit detaches productive resources from their place in circular flow to new productive combinations and innovations. Capitalism inherently depends upon economic progress, development, innovation, and expansive activity, which would be suppressed by inflexible monetary policy. The essence of development consists in the introduction of innovations into the system of production. This period of incorporation or adsorption is a period of readjustment, which is the essence of depression. Both profits of booms and losses from depression are part of the process of development. There is a distinction between the processes of creating a new productive apparatus and the process of merely operating it once it is created. Development is effected by the entrepreneur, who guides the diversion of the factors of production into new combinations for better use; by recasting the productive process, including the introduction of new machinery, and producing products at less expense, the entrepreneur creates a surplus, which he claims as profit. The entrepreneur requires capital, which is found in the money market, and for which the entrepreneur pays interest. The entrepreneur creates a model for others to follow, and the appearance of numerous new entrepreneurs causes depressions as the system struggles to achieve a new equilibrium. The entrepreneurial profit then vanishes in the vortex of competition; the stage is set for new combinations. Risk is not part of the entrepreneurial function; risk falls on the provider of capital. (TNM).

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.

Download or read book Schumpeter and the Idea of Social Science written by Yuichi Shionoya and published by Cambridge University Press. This book was released on 1997-04-10 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a unified and comprehensive analysis of the work of Joseph Alois Schumpeter (1883-1950), the world-famed economist ranked with John Maynard Keynes. Although Schumpeter is well known for his work on economic development and innovation, his aim to construct a universal social science addressing the evolution of mind and society is usually ignored. A major contribution to the history of economic thought, this book will be the standard of Schumpeter scholarship for years to come.

Download or read book History of Economic Analysis written by Joseph A. Schumpeter and published by Psychology Press. This book was released on 1954-12-31 with total page 1310 pages. Available in PDF, EPUB and Kindle. Book excerpt: This classic text, which Schumpeter was working on right up until his death in 1950, provides a complete history of economic theory from Ancient Greece to the end of World War II.

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.

Download or read book Economic Doctrine and Method written by Joseph schumpeter and published by Routledge. This book was released on 2014-02-04 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 2007. Written in 1954, this volume is a study into the history of doctrines and critical reviews, translated from the work of Professor Schumpeter into English from German.

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.

Download or read book Capitalism Socialism and Democracy Schumpeter written by Joseph A. Schumpeter and published by Lebooks Editora. This book was released on 2024-03-07 with total page 765 pages. Available in PDF, EPUB and Kindle. Book excerpt: Joseph Alois Schumpeter (Triesch, February 1883 - Taconic, Connecticut, January 1950) was an Austrian economist and political scientist who profoundly influenced the history of political thought with his democratic theory, which redefined the meaning of democracy. " Capitalism, Socialism, and Democracy" is Schumpeter's most famous and debated work, and one of the great classics of the social sciences in the 20th century. First published in 1942, the work is largely non-mathematical compared to neoclassical works, focusing on the unexpected and rapid bursts of growth triggered by innovation and entrepreneurship rather than static models. "Capitalism, Socialism, and Democracy" is the third most cited book published before 1950 in the social sciences, behind only Karl Marx's "Das Kapital" and Adam Smith's "The Wealth of Nations."

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 421 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.

Download or read book Power or Pure Economics written by Yasuma Takata and published by Springer. This book was released on 1998-09-28 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume examines central questions about the nature of economic theory, its historical development and its explanatory power. What determines economic distribution - can pure economic theory itself explain the fundamentals of distribution or is a broader economics incorporating theories of power in society necessary? The book presents the debate through classic statements of each position from two leading economists of the century, Joseph A. Schumpeter and Yasuma Takata. A substantive introduction from Michio Morishima assesses and places in context the work of both Schumpeter and Takata.

Download or read book Joseph A Schumpeter Historian of Economics written by Laurence S. Moss and published by Routledge. This book was released on 1996-07-04 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: Joseph A. Schumpeter was one of the great economists of the twentieth century. His History of Economic Analsyis is perhaps the greatest contribution to the history of economics, providing a magisterial account of the development of the subject from Ancient Greece to the mid-twentieth century. Schumpeter's views on his predecessors have proved to be