Schumpeter's conceptions of process and order
AbstractAbstract: This paper scrutinises Schumpeter’s conceptions of process and reproduced order. In order to facilitate a detailed understanding of his position, his work is examined from different angles, in three successive ‘approximations’. The coherence, or mismatch, of Schumpeter’s conceptions is subsequently discussed. The paper argues that Schumpeter’s essay on social classes provides an ontologically grounded theory of process which is also a theory of reproduced order; and that this theory does not fit well with Schumpeter’s alternative conception of order as equilibrium. His methodological commitment to an orthodox notion of order as equilibrium is shown to be the source of pervasive tensions in his writings, here classified as ‘retroductive problems’ and ‘spurious problems’.
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Bibliographic InfoPaper provided by Universidade do Porto, Faculdade de Economia do Porto in its series FEP Working Papers with number 512.
Length: 32 pages
Date of creation: Nov 2013
Date of revision:
Schumpeter; methodology; ontology; critical realism;
Find related papers by JEL classification:
- B3 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals
- B4 - Schools of Economic Thought and Methodology - - Economic Methodology
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-11-16 (All new papers)
- NEP-HIS-2013-11-16 (Business, Economic & Financial History)
- NEP-HME-2013-11-16 (Heterodox Microeconomics)
- NEP-HPE-2013-11-16 (History & Philosophy of Economics)
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