A Schumpeterian theory of underdevelopment – a contradiction in terms?
AbstractThe aim of this paper is to show that the dynamics of Schumpeterian economics, in addition to explain the creation of wealth, also implicitly contain the elements of a theory of relative poverty. It is argued that the German tradition of economics, of which Schumpeter is a part, has always encompassed the necessary elements of a theory of uneven growth. List, Marx, and Schumpeter have all emphasized different aspects of this uneven growth. This contrasts sharply with the Anglo-Saxon tradition which, particularly since the 1890’s, has produced theories of growth and trade which imply an even, converging distribution of world activity and income.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 48157.
Date of creation: 1994
Date of revision:
Economic development; growth theory; Schumpeter; uneven development;
Other versions of this item:
- Erik S. Reinert, . "A Schumpeterian theory of underdevelopment - a contradiction in terms?," STEP Report series 199415, The STEP Group, Studies in technology, innovation and economic policy.
- B0 - Schools of Economic Thought and Methodology - - General
- N1 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
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