Schumpeter on money, banking and finance: An institutionalist perspective
AbstractIn this paper, we provide an institutional interpretation of Schumpeter's analysis of money, banking and finance. This interpretation is founded on an overall investigation into Schumpeter's writings addressing those issues from different perspectives.In section 1, we discuss the widespread evolutionist interpretation of Schumpeter and rather assert an institutionalist perspective. In support of our interpretation, we highlight the specific role played by economic sociology in Schumpeter's methodological approach. Economic sociology, indeed, provides the foundations of a theory of institutions and institutional change, which is often undermined by the usual evolutionary interpretation. We believe, however, that taking this dimension seriously into account may have implications for our understanding of economic and institutional change in Schumpeter. Section 2 illustrates this general statement by focusing on Schumpeter's analysis of money, banking and finance, and their respective roles in the process of economic development.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by HAL in its series Post-Print with number halshs-00272405.
Date of creation: 2009
Date of revision:
Publication status: Published, European Journal of the History of Economic Thought, 2009, 16, 2, 325-356
Note: View the original document on HAL open archive server: http://halshs.archives-ouvertes.fr/halshs-00272405/en/
Contact details of provider:
Web page: http://hal.archives-ouvertes.fr/
Schumpeter; Money; Credit; Financial system; Institutional change; Economic sociology;
Other versions of this item:
- Agnes Festre & Eric Nasica, 2009. "Schumpeter on money, banking and finance: an institutionalist perspective," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 16(2), pages 325-356.
- NEP-ALL-2009-09-11 (All new papers)
- NEP-EVO-2009-09-11 (Evolutionary Economics)
- NEP-HIS-2009-09-11 (Business, Economic & Financial History)
- NEP-HPE-2009-09-11 (History & Philosophy of Economics)
- NEP-PKE-2009-09-11 (Post Keynesian Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- North, Douglass C., 1993.
"Economic Performance through Time,"
Nobel Prize in Economics documents
1993-2, Nobel Prize Committee.
- Hodgson, Geoffrey M. & Knudsen, Thorbjorn, 2006. "Why we need a generalized Darwinism, and why generalized Darwinism is not enough," Journal of Economic Behavior & Organization, Elsevier, vol. 61(1), pages 1-19, September.
- Powell, Walter W, 1996. "Weber and Schumpeter: Turbulent Lives, Ideas Never at Rest," Industrial and Corporate Change, Oxford University Press, vol. 5(3), pages 917-24.
- Schumpeter, Joseph A., 1947. "The Creative Response in Economic History," The Journal of Economic History, Cambridge University Press, vol. 7(02), pages 149-159, November.
- Da Rin, M., 1996. "Understanding the development of German kreditbanken, 1850-1914: An approach from the economics of information," Open Access publications from Tilburg University urn:nbn:nl:ui:12-3106566, Tilburg University.
- Markus C. Becker & Thorbjørn Knudsen & James G. March, 2006. "Schumpeter, Winter, and the sources of novelty," Industrial and Corporate Change, Oxford University Press, vol. 15(2), pages 353-371, April.
- Geoffrey M. Hodgson, 1998. "The Approach of Institutional Economics," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 166-192, March.
- Eric Nasica, 2002. "Financing economic activity: Schumpeter vs Keynes," Post-Print halshs-00468593, HAL.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CCSD).
If references are entirely missing, you can add them using this form.