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Schumpeter and Personal Capitalism

  • Richard N. Langlois

    (University of Connecticut)

In an earlier paper, I criticized Schumpeter's account of the obsolescence of the entrepreneur in Capitalism, Socialism, and Democracy. That account rests, I argued, on a confusion about the nature of scientific knowledge and its role in the competences of the firm. This paper is an attempt to take up the argument again, moving it away from the doctrine-historical into the provinces of the economics of organization. Drawing on the work of Max Weber, as well as on a case study of the Swiss watch industry, the paper argues for the ineradicable role of personal capitalism, properly understood.

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File URL: http://web2.uconn.edu/economics/working/1996-05.pdf
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Paper provided by University of Connecticut, Department of Economics in its series Working papers with number 1996-05.

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Length: 42 pages
Date of creation: Mar 1996
Date of revision:
Handle: RePEc:uct:uconnp:1996-05
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Web page: http://www.econ.uconn.edu/

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