Government Deficits, Liquidity Preference, and Schumpeterian Innovation
Wray asserts that rigorous analyses of the role played by innovation in economic development must acknowledge the contribution of Joseph Schumpeter. However, the author suggests that the current stagnation confronting most developed, capitalist economies "cannot be understood without synthesizing Schumpeter's insights with those of Kalecki and Keynes." Hence, Schumpeter's work alone is inadequate in explaining the links between government deficits in ensuring aggregate demand and corporate profits.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Riccardo Bellofiore, 1985. "Money and Development in Schumpeter," Review of Radical Political Economics, Union for Radical Political Economics, vol. 17(1-2), pages 21-40, March.
- Robert Heilbroner, 1993. "Was Schumpeter Right after All?," Journal of Economic Perspectives, American Economic Association, vol. 7(3), pages 87-96, Summer.
- J. A. Kregel, 1993. "A Post Keynesian Explanation of the Causes of the Current World Slupm," Working Papers 182, Dipartimento Scienze Economiche, Universita' di Bologna.
- Wray, L Randall, 1992. "Alternative Theories of the Rate of Interest," Cambridge Journal of Economics, Oxford University Press, vol. 16(1), pages 69-89, March.
When requesting a correction, please mention this item's handle: RePEc:lev:wrkpap:wp_99. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Marie-Celeste Edwards)
If references are entirely missing, you can add them using this form.