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Schumpeter’s core works revisited

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  • Esben Andersen

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Abstract

This paper organizes Schumpeter’s core books in three groups: the programmatic duology, the evolutionary economic duology, and the socioeconomic synthesis. By analysing these groups and their interconnections from the viewpoint of modern evolutionary economics, the paper summarises resolved problems and points at remaining challenges. Its analyses are based on distinctions between microevolution and macroevolution, between economic evolution and socioeconomic coevolution, and between Schumpeter’s three major evolutionary models (called Mark I, Mark II and Mark SC). Copyright Springer-Verlag 2012

Suggested Citation

  • Esben Andersen, 2012. "Schumpeter’s core works revisited," Journal of Evolutionary Economics, Springer, vol. 22(4), pages 627-648, September.
  • Handle: RePEc:spr:joevec:v:22:y:2012:i:4:p:627-648 DOI: 10.1007/s00191-012-0281-5
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    References listed on IDEAS

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    1. Mikhail Anufriev & Cars Hommes & Raoul Philipse, 2013. "Evolutionary selection of expectations in positive and negative feedback markets," Journal of Evolutionary Economics, Springer, pages 663-688.
    2. Armen A. Alchian, 1950. "Uncertainty, Evolution, and Economic Theory," Journal of Political Economy, University of Chicago Press, vol. 58, pages 211-211.
    3. Sidney Winter & Yuri Kaniovski & Giovanni Dosi, 2003. "A baseline model of industry evolution," Journal of Evolutionary Economics, Springer, pages 355-383.
    4. Giulio Bottazzi & Pietro Dindo, 2013. "Selection in asset markets: the good, the bad, and the unknown," Journal of Evolutionary Economics, Springer, pages 641-661.
    5. Florian Hauser & Bob Kaempff, 2013. "Evolution of trading strategies in a market with heterogeneously informed agents," Journal of Evolutionary Economics, Springer, pages 575-607.
    6. Arifovic, Jasmina & Ledyard, John, 2011. "A behavioral model for mechanism design: Individual evolutionary learning," Journal of Economic Behavior & Organization, Elsevier, vol. 78(3), pages 374-395, May.
    7. Shira Fano & Marco LiCalzi & Paolo Pellizzari, 2013. "Convergence of outcomes and evolution of strategic behavior in double auctions," Journal of Evolutionary Economics, Springer, pages 513-538.
    8. Sidney G. Winter, 1971. "Satisficing, Selection, and the Innovating Remnant," The Quarterly Journal of Economics, Oxford University Press, vol. 85(2), pages 237-261.
    9. Sidney Winter & Yuri Kaniovski & Giovanni Dosi, 2003. "A baseline model of industry evolution," Journal of Evolutionary Economics, Springer, pages 355-383.
    10. Richard R. Nelson & Sidney G. Winter, 2002. "Evolutionary Theorizing in Economics," Journal of Economic Perspectives, American Economic Association, vol. 16(2), pages 23-46, Spring.
    11. Carl Chiarella & Roberto Dieci & Xue-Zhong He, 2013. "Time-varying beta: a boundedly rational equilibrium approach," Journal of Evolutionary Economics, Springer, pages 609-639.
    12. Dosi, Giovanni & Nelson, Richard R, 1994. "An Introduction to Evolutionary Theories in Economics," Journal of Evolutionary Economics, Springer, pages 153-172.
    13. Blume, Lawrence & Easley, David, 1992. "Evolution and market behavior," Journal of Economic Theory, Elsevier, vol. 58(1), pages 9-40, October.
    14. Ulrich Witt, 2008. "What is specific about evolutionary economics?," Journal of Evolutionary Economics, Springer, pages 547-575.
    15. John Metcalfe, 2008. "Accounting for economic evolution: Fitness and the population method," Journal of Bioeconomics, Springer, pages 23-49.
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    Cited by:

    1. Bartz, Wiebke & Winkler, Adalbert, 2016. "Flexible or fragile? The growth performance of small and young businesses during the global financial crisis — Evidence from Germany," Journal of Business Venturing, Elsevier, vol. 31(2), pages 196-215.

    More about this item

    Keywords

    Joseph A. Schumpeter; Grouping of works; Microevolution and macroevolution; Socioeconomic coevolution; Schumpeterian models of evolution; B31; B52; E30; L00; O30;

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary
    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
    • L00 - Industrial Organization - - General - - - General
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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