Schumpeter’s new combinations
The paper focuses attention on Schumpeter’s achievements in his classic contribution and how these relate to the contributions of other major authors. While deeply indebted to Marx’s vision of capitalism as a system incessantly in travail, Schumpeter was no ‘Marxist’. He shared Böhm’s view that profits are not due to ‘exploitation’, but thought that the latter’s attack on Marx was a failure. There are remarkable differences, but also similarities between the analyses of Schumpeter and Keynes. Marx, Schumpeter and Keynes rejected Say’s law and other basic ideas constituting the marginalist doctrine. They saw capitalism as a restless, crisis-prone system. Copyright Springer-Verlag Berlin Heidelberg 2012
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Volume (Year): 22 (2012)
Issue (Month): 5 (November)
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References listed on IDEAS
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1722, Harvard - Institute of Economic Research.
- Nathan Rosenberg, 2011. "Was Schumpeter a Marxist?," Industrial and Corporate Change, Oxford University Press, vol. 20(4), pages 1215-1222, August.
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- Richard N. Langlois, 2002. "Schumpeter and the Obsolescence of the Entrepreneur," Working papers 2002-19, University of Connecticut, Department of Economics.
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"Theory of Production,"
Cambridge University Press, number 9780521443258, October.
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