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Schumpeter and Personal Capitalism

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  • Richard N. Langlois

    (University of Connecticut)

Abstract

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.

Suggested Citation

  • Richard N. Langlois, 1996. "Schumpeter and Personal Capitalism," Working papers 1996-05, University of Connecticut, Department of Economics.
  • Handle: RePEc:uct:uconnp:1996-05
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    File URL: http://web2.uconn.edu/economics/working/1996-05.pdf
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    Cited by:

    1. Dow Alexander & Dow Sheila C., 2011. "Animal Spirits Revisited," Capitalism and Society, De Gruyter, vol. 6(2), pages 1-25, December.
    2. Kingston, William, 2000. "Antibiotics, invention and innovation," Research Policy, Elsevier, vol. 29(6), pages 679-710, June.
    3. Gérard Charreaux, 2002. "Au-delà de l'approche juridico-financière:le rôle cognitif des actionnaires et ses conséquences sur l'analyse de la structure de propriété et de la gouvernance," Working Papers CREGO 020701, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations, revised Jul 2002.

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