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Money, Banking and Dynamics: Schumpeter vs. Hayek

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  • Agnès Festré

    ()
    (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - CNRS : UMR6227 - Université de Nice Sophia-Antipolis)

Abstract

In the first section we discuss the Wicksellian origins of Schumpeter's and Hayek's approaches to money and banking in the context of dynamic economic analysis. The second section compares the role played by banks and credit in Schumpeter's and Hayek's explanation of economic fluctuations. We conclude by contrasting both authors' perception of economic dynamics.

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Bibliographic Info

Paper provided by HAL in its series Post-Print with number halshs-00271359.

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Date of creation: 2002
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Publication status: Published, The Contribution of Joseph Schumpeter to Economics: Economic Development and Institutional Change, R. Arena and C. Dangel-Hagnauer (Ed.), 2002, 221-240
Handle: RePEc:hal:journl:halshs-00271359

Note: View the original document on HAL open archive server: http://halshs.archives-ouvertes.fr/halshs-00271359/en/
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Keywords: Banking ; credit theory ; business cycles;

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  1. Laidler, D., 1992. "Hayek on Neutral Money and the Cycle," UWO Department of Economics Working Papers 9206, University of Western Ontario, Department of Economics.
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