IDEAS home Printed from https://ideas.repec.org/p/van/wpaper/0017.html
   My bibliography  Save this paper

Schumpeter's 'Vision' as Filter for his Evaluation of other Economists' Visions

Author

Listed:
  • Andrea Maneschi

    () (Department of Economics, Vanderbilt University)

Abstract

In his History of Economic Analysis, Schumpeter stated that although the subject of his book is a history of economic analysis, "analytic effort is of necessity preceded by a preanalytic cognitive act that supplies the raw material for the analytic effort. In this book, this preanalytic cognitive act will be called Vision" (p. 41). Scattered through it are various examples of Schumpeter's "vision", applied to either economists or areas investigated by schools of economic thought. These examples are revealing with regard to economists or schools described as having vision or, in a few cases, lacking it, and to the economists with whom this term is associated neither positively nor negatively. In this article, I analyze the economists and schools of thought that according to Schumpeter were marked by vision, and to assess the common denominator (if any) characterizing them. To place an economist's vision (or lack of it) in perspective, I first analyze Schumpeter's own vision of the economic process, and view it as a filter through which he appraised the visions of other economists. The fact that Schumpeter could couple the term vision with "all the errors that go with it" (p. 570) shows that he did not necessarily grant his approval to someone's vision. The economists and schools of thought whose vision Schumpeter analyzed include the early classical economist James Anderson, the national system economists List and Carey, the classical conception of economic development, the neoclassical economists' conception of the economic process, Marx, Jevons, Walras, his fellow Austrians B�hm-Bawerk and Wieser, and Keynes. Keynes's stagnationist vision is contrasted with Schumpeter's own very different view of the capitalist process, whose dynamics are entrusted to an innovative entrepreneurial class. In the concluding section I investigate the role of vision in the history of economic thought in light of Schumpeter's elaboration of this concept.

Suggested Citation

  • Andrea Maneschi, 2000. "Schumpeter's 'Vision' as Filter for his Evaluation of other Economists' Visions," Vanderbilt University Department of Economics Working Papers 0017, Vanderbilt University Department of Economics.
  • Handle: RePEc:van:wpaper:0017
    as

    Download full text from publisher

    File URL: http://www.accessecon.com/pubs/VUECON/vu00-w17.pdf
    File Function: First version, 2000
    Download Restriction: no

    References listed on IDEAS

    as
    1. Andrea Maneschi, 1998. "Comparative Advantage in International Trade," Books, Edward Elgar Publishing, number 856.
    2. Enrico Santarelli & Enzo Pesciarelli, 1990. "The Emergence of a Vision: The Development of Schumpeter's Theory of Entrepreneurship," History of Political Economy, Duke University Press, vol. 22(4), pages 677-696, Winter.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Schumpeter; vision;

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals

    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:van:wpaper:0017. 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: (John P. Conley). General contact details of provider: http://www.vanderbilt.edu/econ/wparchive/index.html .

    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 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.

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

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.