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Lachmann and Schumpeter: Some Reflections

In: Including a Symposium on Ludwig Lachmann

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  • Martin Fransman

Abstract

In this work, I deal – based on my memories and reflections on Lachmann’s teaching and the ideas that I discussed with him as my dissertation supervisor and member of his weekly departmental seminar – with the following two topics: first, what Lachmann understood by his subjectivist approach to economics and some of its consequences, including the use of the concept of equilibrium in economics; and second, my understanding of Lachmann’s intellectual relationship with Schumpeter. The work also raises questions about the absence in Lachmann’s work of an examination of the role of innovation in the economic process that he analyzed.

Suggested Citation

  • Martin Fransman, 2019. "Lachmann and Schumpeter: Some Reflections," Research in the History of Economic Thought and Methodology, in: Including a Symposium on Ludwig Lachmann, volume 37, pages 43-53, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:rhetzz:s0743-41542019000037b006
    DOI: 10.1108/S0743-41542019000037B006
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