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Development by Joseph A. Schumpeter: Introduction

Author

Listed:
  • Markus C. Becker
  • Hans Ulrich Esslinger
  • Ulrich Hedtke
  • Thorbjorn Knudsen

Abstract

The present article introduces Development, a new, unpublished and hitherto unknown article by Joseph A. Schumpeter from 1932. Development is remarkable because it significantly adds to Schumpeter's known works on a number of issues that were central to his theory of economic development. Development shows that Schumpeter considered the explanation of novelty as the most important unsolved scientific problem. Schumpeter doubts the explanatory value of entrepreneurship and indicates that theoretical advances might be forthcoming that can help a better understanding of the social dynamics which gives rise to novelty.

Suggested Citation

  • Markus C. Becker & Hans Ulrich Esslinger & Ulrich Hedtke & Thorbjorn Knudsen, 2005. "Development by Joseph A. Schumpeter: Introduction," Journal of Economic Literature, American Economic Association, vol. 43(1), pages 108-111, March.
    • Handle: RePEc:aea:jeclit:v:43:y:2005:i:1:p:108-111
    DOI: 10.1257/0022051053737825
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