Joseph Schumpeter and Josef Steindl provide distinctive contributions to the analysis of growth and development under capitalism. They each analyse the evolution of competition and use this analysis to determine the growth prospects of mature capitalism. Both reach pessimistic conclusions,...

This paper empirically investigates and identifies the main contributing factors to output and productivity growth in Australia for the period 1950-2005. Cointegration and a vector error-correction model are used along with Granger causality tests, impulse response functions and forecast error...

We follow Schumpeter's approach to analyzing price movements as set out in Business Cycles. While Schumpeter emphasizes movements in prices of finished manufactured goods, our focus is on the real prices of primary commodities, which are measured by the price of particular commodities or an...