Schumpeter's unknown article Development

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Schumpeter's unknown article Development

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Title: Schumpeter's unknown article Development
A missing link between Schumpeter's theories of economic development, business cycles and democracy
Author: Becker, Markus C.; Esslinger, Hans Ulrich; Hedtke, Ulrich; Knudsen, Thorbjørn
Abstract: The present article introduces Development, a new, unpublished and hitherto unknown article written by Joseph A. Schumpeter. It was originally written in 1932 and titled Entwicklung. Development is remarkable since it helps understand the unity of Schumpeter’s work and significantly adds to Schumpeter’s known works on a number of issues that were central to his theory of economic development. Development shows that Schumpeter considered the explanation of novelty as the most important unsolved scientific problem. For Schumpeter, entrepreneurship remained a good description of novelty, but, by his own admission in Development, nothing is explained thereby. On the optimistic side, Schumpeter indicates that theoretical advances might be forthcoming that can help a better understanding of the social dynamics which gives rise to novelty.
URI: http://hdl.handle.net/10398/6910
Date: 2004-03-18

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