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Palgrave Macmillan

Joseph A. Schumpeter

A Theory of Social and Economic Evolution

ISBN 9781403996275
Publication Date October 2011
Formats Hardcover Ebook (EPUB) Ebook (PDF) 
Publisher Palgrave Macmillan
Series Great Thinkers in Economics

This book provides a comprehensive exploration of Joseph A. Schumpeter's research and theories, and in particular his theory of economic and social evolution as the real core of his work and academic life. Andersen demonstrates that the concept of innovative entrepreneurship is part of an evolutionary research programme, covering not only Schumpeter's account for economic growth and evolution but also his studies of the routinised economy, business cycles, socio-economic evolution, and the history of capitalism. The book thereby resolves apparent paradoxes and clarifies Schumpeter's challenge to modern economists and social scientists.
This book will be essential reading for researchers and postgraduates studying the history of economic thought, political economy, industrial dynamics and sociology.

ESBEN SLOTH ANDERSEN is Professor of Evolutionary Economics at Aalborg University, Denmark. He has previously held the position of President of the International Schumpeter Society and he received the Gunnar Myrdal Prize in 2010. Recent publications include Evolutionary Economics: Post-Schumpeterian Contributions (1994) and Schumpeter's Evolutionary Economics (2009).

The Early Schumpeter, 1883-1913
From Equilibrium Economics to Evolutionary Economics
The Entrepreneur versus the Economic System
Railroadisation as Schumpeter's Standard Example
Intermezzo, 1914-1925
Towards a General Theory of Social Evolution
The Little Mecca for Economists, 1925-1932
The Harvard Professor and His Projects, 1932-1942
The Evolutionary Trilogy and the Schumpeterian Models
The Basic Functioning of the Capitalist Engine
The Complex Function of the Capitalist Engine
The Economic History of Capitalist Evolution
The Transformation of the Capitalist Engine
The Capitalist Engine and Long-Term Social Evolution
The Last Years, 1943-1950


'From the start of his career Joseph Schumpeter argued that continuing innovation causing both creative destruction and over the long run cumulative great improvements in the living standards of the common people was the most important feature of modern capitalist economies. He dedicated a professional lifetime trying to expand economic theory to recognize this. His general argument is widely accepted by academic economists, as well as by laypersons. On the other hand Schumpeter largely failed to move economic theory from its focus on equilibrium conditions. Esben Anderson does a beautiful job of telling this story.' - Richard R. Nelson, Professor Emeritus, Columbia University
'With this brilliant account of Schumpeter's intellectual history Andersen proves himself to be the leading expert on Schumpeter's writings. He tells us a thrilling story of an intellectual hero who, feeling compelled to revolutionize economic theory, wrestled all over his career with an evolutionary paradigm and eventually left it as an unfinished legacy.' - Ulrich Witt, Max Planck Institute of Economics, Jena
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