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Capitalist Development, Innovations, Business Cycles and Unemployment: Joseph Alois Schumpeter and Emil Hans Lederer


  • Harald Hagemann


Emil Lederer and Joseph Schumpeter became life-long friends in their student days at the University of Vienna. The life and work of both economists took place in three states and four political cultures. After a short biographical information with emphasis on the linkages between Schumpeter and Lederer, section II addresses the influence of B¨ohm-Bawerk’s famous seminar in 1905–06 where both Schumpeter and Lederer first developed a greater interest in Marxian analysis. Next the role of the Archiv für Sozialwissenschaft und Sozialpolitik is covered, which in the years of the Weimar Republic was edited by Lederer with Schumpeter as an associate editor. Among many important papers in the Archiv we find also Kondratieff’s famous article on the long waves in economic life which had a strong impact on Schumpeter’s Business Cycles ( 1939 ). Lederer and Schumpeter both shared the view that capitalist economies normally are in dynamic disequilibrium. Business cycles are seen as an integral part of capitalist development. Emphasis in economic theory should therefore be put on the analysis of the short-run and particularly the long-run dynamics of the economy. In section IV Schumpeter’s analysis of business cycles and capitalist development is compared with Lederer’s analysis. In section V Lederer’s treatment of technological unemployment is analyzed and compared with the analysis of Schumpeter who considered technological unemployment as a special case arising from disturbance by innovations within the economic system. Finally, some reflections are made how far Schumpeter and Lederer were social economists. Copyright Springer-Verlag Berlin Heidelberg 2015
(This abstract was borrowed from another version of this item.)

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  • Harald Hagemann, 2012. "Capitalist Development, Innovations, Business Cycles and Unemployment: Joseph Alois Schumpeter and Emil Hans Lederer," GREDEG Working Papers 2012-13, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
  • Handle: RePEc:gre:wpaper:2012-13

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    References listed on IDEAS

    1. Allgoewer, Elisabeth, 2003. "Emil Lederer: Business Cycles, Crises, and Growth," Journal of the History of Economic Thought, Cambridge University Press, vol. 25(3), pages 327-348, September.
    2. Harald Hagemann, 2003. "Schumpeter's early contributions on crises theory and business-cycle theory," History of Economic Ideas, Fabrizio Serra Editore, Pisa - Roma, vol. 11(1), pages 47-67.
    3. Shionoya,Yuichi, 1997. "Schumpeter and the Idea of Social Science," Cambridge Books, Cambridge University Press, number 9780521430340, March.
    4. Mauro Boianovsky & Hans-Michael Trautwein, 2009. "Frictions in Schumpeter’s Theory of Unemployment," Chapters, in: Yuichi Shionoya & Tamotsu Nishizawa (ed.),Marshall and Schumpeter on Evolution, chapter 12, Edward Elgar Publishing.
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    Cited by:

    1. Georg Blind & Andreas Pyka, 2015. "Erich Schneider: The admiring disciple who did not become a follower," Journal of Evolutionary Economics, Springer, vol. 25(1), pages 239-252, January.
    2. Arthur Mustafin, 2018. "Kondratiev Long Cycles: New Information About Discussions In The Ussr In The 1920s," HSE Working papers WP BRP 168/HUM/2018, National Research University Higher School of Economics.
    3. Arthur Mustafin, 2019. "Long Waves In The Pre-Industrial Period: A Time Series Analysis Of Soviet Researchers’ Data," HSE Working papers WP BRP 177/HUM/2019, National Research University Higher School of Economics.

    More about this item


    Schumpeter; Lederer; innovation; unemployment;

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • Q33 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Resource Booms (Dutch Disease)


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