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Schumpeter and Goodwin

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  • Hanappi, Hardy

Abstract

This paper discusses the works of Joseph Schumpeter and Richard Goodwin using the common perspective that both were theoretical mavericks of mainstream economic theory development in the 20th century. In particular the fact that their activities overlapped during their cooperation at Harvard University is explored. Their contributions are interpreted as entrepreneurial activity in the domain of theory building - with some spillovers to economic policy intervention. It is argued that maverick theoretical activity is indispensable for progress in evolutionary political economy.

Suggested Citation

  • Hanappi, Hardy, 2014. "Schumpeter and Goodwin," MPRA Paper 59932, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:59932
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    File URL: https://mpra.ub.uni-muenchen.de/59932/1/MPRA_paper_59932.pdf
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    References listed on IDEAS

    as
    1. Lord Robbins, 1970. "The Evolution of Modern Economic Theory," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-00876-6.
    2. Lord Robbins, 1970. "The Evolution of Modern Economic Theory," Palgrave Macmillan Books, in: The Evolution of Modern Economic Theory, chapter 1, pages 11-46, Palgrave Macmillan.
    3. Goodwin, Richard M, 1986. "Swinging along the Turnpike with von Neumann and Sraffa," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 10(3), pages 203-210, September.
    4. Hanappi Hardy, 2014. "Evolutionary Political Economy in Crisis Mode," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 234(2-3), pages 422-440, April.
    5. Hendry, David F, 1980. "Econometrics-Alchemy or Science?," Economica, London School of Economics and Political Science, vol. 47(188), pages 387-406, November.
    6. Hardy Hanappi (ed.), 2013. "Game Theory Relaunched," Books, IntechOpen, number 2750.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Evolutionary political economy; Schumpeter; Goodwin; history of thought;
    All these keywords.

    JEL classification:

    • B3 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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