IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/105664.html
   My bibliography  Save this paper

The Man Who Discovered Capitalism: A Documentary on Schumpeter for Use in the Classroom

Author

Listed:
  • Dalton, John
  • Logan, Andrew

Abstract

We describe how the 2016 documentary The Man Who Discovered Capitalism can be used in the classroom to provide an entry point to the life and economics of Joseph A. Schumpeter, whose work on innovation, entrepreneurship, and creative destruction remains relevant for students today. We summarize the key ideas conveyed in the documentary and offer four criticisms: its failure to capture the role of fin-de-siecle Vienna on Schumpeter's intellectual development, its incomplete understanding of Schumpeter's theory of innovation, its overstatement of Keynes's influence relative to Schumpeter, and the overly generous credit it gives to government for spurring innovation. We show how the documentary can be used in the classroom, complete with sample discussion questions grounded in the criticisms we identify. We argue The Man Who Discovered Capitalism is an effective teaching tool suitable for a variety of courses, including those on economic growth, intermediate macroeconomics, and the history of economic thought, among others.

Suggested Citation

  • Dalton, John & Logan, Andrew, 2021. "The Man Who Discovered Capitalism: A Documentary on Schumpeter for Use in the Classroom," MPRA Paper 105664, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:105664
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/105664/1/MPRA_paper_105664.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. G. Dirk Mateer & Brian O’Roark & Kim Holder, 2016. "The 10 Greatest Films for Teaching Economics," The American Economist, Sage Publications, vol. 61(2), pages 204-216, October.
    2. Diamond, Arthur M., 2009. "Schumpeter Vs. Keynes: “In The Long Run Not All Of Us Are Dead”," Journal of the History of Economic Thought, Cambridge University Press, vol. 31(4), pages 531-541, December.
    3. Barbara J. Phipps & Robert J. Strom & William J. Baumol, 2012. "Principles of Economics Without the Prince of Denmark," The Journal of Economic Education, Taylor & Francis Journals, vol. 43(1), pages 58-71, January.
    4. John T. Dalton & Lillian R. Gaeto, 2022. "Schumpeter vs. Keynes redux: “Still not dead”," Southern Economic Journal, John Wiley & Sons, vol. 89(2), pages 569-592, October.
    5. McCloskey, Deirdre Nansen, 2006. "The Bourgeois Virtues," University of Chicago Press Economics Books, University of Chicago Press, number 9780226556635, March.
    6. John T. Dalton & Andrew J. Logan, 2021. "Schumpeter in Vienna: A Study Abroad Course," Contributions to Economics, in: Joshua Hall & Kim Holder (ed.), Off-Campus Study, Study Abroad, and Study Away in Economics, chapter 0, pages 175-190, Springer.
    7. Arthur M. Diamond Jr., 2007. "The Neglect of Creative Destruction in Micro-Principles Texts," History of Economic Ideas, Fabrizio Serra Editore, Pisa - Roma, vol. 15(1), pages 197-210.
    8. Dekker,Erwin, 2019. "The Viennese Students of Civilization," Cambridge Books, Cambridge University Press, number 9781107565661, December.
    9. Linda S. Ghent & Alan Grant & George Lesica, 2011. "The Economics of Seinfeld," The Journal of Economic Education, Taylor & Francis Journals, vol. 42(3), pages 317-318, July.
    10. John T. Dalton & Andrew J. Logan, 2020. "Using the movie Joy to teach innovation and entrepreneurship," The Journal of Economic Education, Taylor & Francis Journals, vol. 51(3-4), pages 287-296, August.
    11. Joshua Hall, 2005. "Homer Economicus : Using The Simpsons to Teach Economics," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 20(Spring 20), pages 166-177.
    12. John T. Dalton & Andrew J. Logan, 0. "Teaching and learning Schumpeter: A dialogue between professor and student," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 0, pages 1-22.
    13. Robert Formaini, 2001. "Free Markets on Film : Hollywood and Capitalism," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 16(Spring 20), pages 48-55.
    14. Robert L. Sexton, 2006. "Using Short Movie and Television Clips in the Economics Principles Class," The Journal of Economic Education, Taylor & Francis Journals, vol. 37(4), pages 406-417, October.
    15. Arthur M. Diamond, Jr., 2009. "Using Video Clips to Teach Creative Destruction," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 25(Fall 2009), pages 151-161.
    16. Boldrin,Michele & Levine,David K., 2010. "Against Intellectual Monopoly," Cambridge Books, Cambridge University Press, number 9780521127264, December.
    17. Don Leet & Scott Houser, 2003. "Economics Goes to Hollywood: Using Classic Films and Documentaries to Create an Undergraduate Economics Course," The Journal of Economic Education, Taylor & Francis Journals, vol. 34(4), pages 326-332, December.
    18. Matthew J. Holian, 2011. "Using Drew Carey in the Classroom," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 26(Spring 20), pages 161-167.
    19. Giersch, Herbert, 1984. "The Age of Schumpeter," American Economic Review, American Economic Association, vol. 74(2), pages 103-109, May.
    20. James Gwartney, 2012. "What Should We Be Teaching in Basic Economics Courses?," The Journal of Economic Education, Taylor & Francis Journals, vol. 43(3), pages 300-307, July.
    21. Kamien,Morton I. & Schwartz,Nancy L., 1982. "Market Structure and Innovation," Cambridge Books, Cambridge University Press, number 9780521293853, December.
    22. Malerba, Franco & Orsenigo, Luigi, 1996. "Schumpeterian patterns of innovation are technology-specific," Research Policy, Elsevier, vol. 25(3), pages 451-478, May.
    23. John T. Dalton & Andrew J. Logan, 2022. "Teaching and learning Schumpeter: A dialogue between professor and student," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 35(2), pages 235-256, June.
    24. Sarah Burke & Patricia Robak & Carolyn Fabian Stumph, 2018. "Beyond Buttered Popcorn: A Project Using Movies to Teach Game Theory in Introductory Economics," Journal of Economics Teaching, Journal of Economics Teaching, vol. 3(1), pages 153-161, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. John T. Dalton & Andrew J. Logan, 2020. "Using the movie Joy to teach innovation and entrepreneurship," The Journal of Economic Education, Taylor & Francis Journals, vol. 51(3-4), pages 287-296, August.
    2. John T. Dalton & Lillian R. Gaeto, 2022. "Schumpeter vs. Keynes redux: “Still not dead”," Southern Economic Journal, John Wiley & Sons, vol. 89(2), pages 569-592, October.
    3. Dalton, John & Logan, Andrew, 2019. "A Vision for a Dynamic World: Reading Capitalism, Socialism and Democracy for Today," MPRA Paper 95012, University Library of Munich, Germany.
    4. John T. Dalton & Andrew J. Logan, 2022. "Teaching and learning Schumpeter: A dialogue between professor and student," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 35(2), pages 235-256, June.
    5. John T. Dalton & Andrew J. Logan, 2021. "Schumpeter in Vienna: A Study Abroad Course," Contributions to Economics, in: Joshua Hall & Kim Holder (ed.), Off-Campus Study, Study Abroad, and Study Away in Economics, chapter 0, pages 175-190, Springer.
    6. Mustofa, Rochman Hadi & Pramudita, Dias Aziz & Atmono, Dwi & Priyankara, Rasika & Asmawan, Mochammad Chairil & Rahmattullah, Muhammad & Mudrikah, Saringatun & Pamungkas, Leonny Noviyana Sakti, 2022. "Exploring educational students acceptance of using movies as economics learning media: PLS-SEM analysis," International Review of Economics Education, Elsevier, vol. 39(C).
    7. Abdullah Al-Bahrani & David Mahon & G. Dirk Mateer & Patrick Ryan Murphy, 2018. "Pokemon GO: Applications for the Economics Classroom," Journal of Economics Teaching, Journal of Economics Teaching, vol. 3(2), pages 218-231, December.
    8. Diaz Vidal, Daniel & Mungenast, Kyle & Diaz Vidal, Jesus, 2020. "Economics through film: Thinking like an economist," International Review of Economics Education, Elsevier, vol. 35(C).
    9. Marie Briguglio & Charity-Joy Acchiardo & Dirk Mateer & Wayne Geerling, 2020. "Behavioral economics in film: Insights for educators," Journal of Behavioral Economics for Policy, Society for the Advancement of Behavioral Economics (SABE), vol. 4(1), pages 17-28, December.
    10. Ambrose Leung & Hiroyo Nakagawa, 2021. "Exploring Collaborative Learning in Economics with Visual Aids," Journal of Economics Teaching, Journal of Economics Teaching, vol. 6(1), pages 53-69, May.
    11. Joshua C. Hall & Robert A. Lawson & J. Dirk Mateer & Andrew Rice, 2008. "Teaching Private Enterprise Through Tunes: An Abecedarium of Music for Economists," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 23(Spring 20), pages 157-166.
    12. Amanda Mandzik, 2025. "School’s (Almost) Out! A Summer-Themed Economics Review Class to Get Students Through Finals," Journal of Economics Teaching, Journal of Economics Teaching, vol. 10(1), pages 20-39, January.
    13. Joab N. Corey & James D. Gwartney & Gail M. Hoyt, 2011. "Economics Teaching Workshops: Past, Present, and Future," Chapters, in: Gail M. Hoyt & KimMarie McGoldrick (ed.), International Handbook on Teaching and Learning Economics, chapter 76, Edward Elgar Publishing.
    14. Matthew J. Holian, 2011. "Using Drew Carey in the Classroom," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 26(Spring 20), pages 161-167.
    15. Christopher Clark & Brooke Conaway & Jessie Folk & Justin Roush, 2021. "Teaching Economics in Three Acts," Journal of Economics Teaching, Journal of Economics Teaching, vol. 5(3), pages 116-130, March.
    16. Adam J. Hoffer & George R. Crowley, 2015. "Did You Say That Voting Is Ridiculous? Using South Park to Teach Public Choice," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 30(Fall 2015), pages 103-109.
    17. Daniel Kuester & Dirk Mateer, 2018. "Teaching How Markets Work Using the Economics of The Office Website," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 33(Fall 2018), pages 75-91.
    18. Allison Shwachman Kaminaga & Aziz N. Berdiev & Laura Beaudin, 2024. "Using the Fed Challenge to Enrich the Teaching of a Money and Banking Class," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 50(2), pages 213-234, April.
    19. Marta Podemska-Mikluch & Darwyyn Deyo & David T. Mitchell, 2016. "Public Choice Lessons from the Wizarding World of Harry Potter," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 31(Spring 20), pages 57-69.
    20. William J. Luther, 2015. "Using NPR's Planet Money Podcast in Principles of Macroeconomics," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 30(Spring 20), pages 143-154.

    More about this item

    Keywords

    Joseph Schumpeter; Innovation; Entrepreneurship; Creative Destruction; John Maynard Keynes; Education; Documentary;
    All these keywords.

    JEL classification:

    • A20 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - General
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:105664. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.