Entrepreneurs, Institutions and Economic Change: The Economic Thought of J. A. Schumpeter (1905-1925)

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Entrepreneurs, Institutions and Economic Change offers a close analysis of J.A. Schumpeter's work from the Austrian period by treating his writings as an organic whole regardless of their economic, social or political character. Professor De Vecchi's analysis bears out Schumpeter's thesis that capitalist motion is the result of the interaction of individual initiative and institutional intervention. The first part outlines the theory of economic change and considers issues such as entrepreneurship, the ...
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Overview

Entrepreneurs, Institutions and Economic Change offers a close analysis of J.A. Schumpeter's work from the Austrian period by treating his writings as an organic whole regardless of their economic, social or political character. Professor De Vecchi's analysis bears out Schumpeter's thesis that capitalist motion is the result of the interaction of individual initiative and institutional intervention. The first part outlines the theory of economic change and considers issues such as entrepreneurship, the non-competitive credit market and the relationship between banks and the central bank. Money and the fiscal state are addressed in the second part through Schumpeter's work on money as a unit of account, the problem of the acceptance of legal tender, and the scope and limits of the quantity theory of money. The economic role of the state and Schumpeter's financial programme for reconstituting the Austrian economy in 1919 are also considered. The final part examines Schumpeter's ideas on income distribution, social classes and the political structure of capitalist society.
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Product Details

  • ISBN-13: 9781858982090
  • Publisher: Elgar, Edward Publishing, Inc.
  • Publication date: 1/28/1995
  • Pages: 224

Table of Contents

Acknowledgements
To the Reader
Foreword
1 The Theory of Economic Change 3
2 The Initiative to Change 15
3 A 'Credit Economy' 27
4 The Process of 'Creative Destruction' 45
5 Social Product and Unit of Account 63
6 The Tax State and Financial Policy 82
7 Capitalist Incomes 105
8 The Socialization of Production 120
App. A. Vision and Theory 137
App. B. The Origin of Institutions and the Nature of the State 140
App. C. The Entrepreneur 144
App. D. Interest and Interest Rate 151
App. E. Economic Policy in Postwar Austria 154
App. F. Power and Economics 159
App. G. Schumpeter and the Austrian Concepts of Capital 162
App. H. Capitalism and 'Rationalization of Life': Lederer's Influence on Schumpeter 164
References 167
Name Index 185
Subject Index 189
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