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J. A. Schumpeter (1908) and Money: Acting as Go-Between?

Author

Listed:
  • Cécile Dangel-Hagnauer

    (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur)

Abstract

This paper examines J.A. Schumpeter's theory of money, as expounded in his first book, Das Wesen und der Hauptinhalt der theoretischen Nationalökonomie (The Essence and Main Contents of Theoretical Economics), published in 1908. The book, which offers a presentation of the static analysis of general equilibrium, sparked excitement among the young economists in the German language area, well beyond World War I, leading Schumpeter to act as a link between Walras and the German-speaking world. Interestingly, the book contains one of the first attempts at integrating money into the general equilibrium theory. From this point of view, it would seem that Schumpeter followed in the footsteps of Walras, rather than in Menger's. In fact, his contribution, while inconclusive, is of his own design. In any case, this attempt remains isolated, as Schumpeter will not trod the same path again in his later writings on the theory of money, credit and banking.

Suggested Citation

  • Cécile Dangel-Hagnauer, 2013. "J. A. Schumpeter (1908) and Money: Acting as Go-Between?," Post-Print halshs-00929824, HAL.
    • Handle: RePEc:hal:journl:halshs-00929824
    DOI: 10.4074/S2113520713012036
    as

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    More about this item

    Keywords

    E40; Schumpeter; monetary theory; general equilibrium B31; D50; équilibre général B31; théorie monétaire;
    All these keywords.

    JEL classification:

    • E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals

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