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Schumpeter’s new combinations

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Author Info

  • 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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