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Schumpeter’s new combinations

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  • Heinz Kurz

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Abstract

The paper focuses attention on Schumpeter’s achievements in his classic contribution and how these relate to the contributions of other major authors. While deeply indebted to Marx’s vision of capitalism as a system incessantly in travail, Schumpeter was no ‘Marxist’. He shared Böhm’s view that profits are not due to ‘exploitation’, but thought that the latter’s attack on Marx was a failure. There are remarkable differences, but also similarities between the analyses of Schumpeter and Keynes. Marx, Schumpeter and Keynes rejected Say’s law and other basic ideas constituting the marginalist doctrine. They saw capitalism as a restless, crisis-prone system. Copyright Springer-Verlag Berlin Heidelberg 2012

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File URL: http://hdl.handle.net/10.1007/s00191-012-0295-z
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Bibliographic Info

Article provided by Springer in its journal Journal of Evolutionary Economics.

Volume (Year): 22 (2012)
Issue (Month): 5 (November)
Pages: 871-899

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Handle: RePEc:spr:joevec:v:22:y:2012:i:5:p:871-899

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Related research

Keywords: Innovation; Keynes; John Maynard; Marx; Karl; Schumpeter; Joseph; Economic dynamics; B10; B15; B31; D33; E12; E22; O31; O33;

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References

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  1. Young, Allyn A., 1928. "Increasing Returns and Economic Progress," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 38, pages 527-542.
  2. Markus C. Becker & Thorbj¯rn Knudsen, 2002. "Schumpeter 1911: Farsighted Visions on Economic Development," American Journal of Economics and Sociology, Wiley Blackwell, vol. 61(2), pages 387-403, 04.
  3. Martin L. Weitzman, 1998. "Recombinant Growth," The Quarterly Journal of Economics, MIT Press, vol. 113(2), pages 331-360, May.
  4. Nathan Rosenberg, 2011. "Was Schumpeter a Marxist?," Industrial and Corporate Change, Oxford University Press, vol. 20(4), pages 1215-1222, August.
  5. Kurz, Heinz D., 2008. "Innovations and profits: Schumpeter and the classical heritage," Journal of Economic Behavior & Organization, Elsevier, vol. 67(1), pages 263-278, July.
  6. Panayotis G. Michaelides & John G. Milios, 2009. "Joseph Schumpeter and the German Historical School," Cambridge Journal of Economics, Oxford University Press, vol. 33(3), pages 495-516, May.
  7. Richard N. Langlois, 2002. "Schumpeter and the Obsolescence of the Entrepreneur," Working papers 2002-19, University of Connecticut, Department of Economics.
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Cited by:
  1. Heinz D. Kurz, 2012. "Investition und Zins. Die Beiträge Schumpeters und Keynes'," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 38(2), pages 197-210.

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