of credit as a ratio of the gross domestic product (GDP), an application of Schumpeter’s theory of credit and development … three aims. First, Schumpeter sharply distinguished between the volume of credit financing development and the (typically … investment and speculation has been institutionalized are discussed. The message of this paper is that, as Schumpeter wrote …

While Schumpeter’s broad theory of how capitalist economies worked articulated in his Theory of Economic Development … half of the twentieth century, and today few economists even read Schumpeter. The first part of this essay considers the … reasons why Schumpeter largely has been ignored. However, recent developments have increased the interests of economists in …

Schumpeter’s forecast in his Capitalism, Socialism and Democracy (<CitationRef CitationID="CR52">1942</CitationRef … Communism seemed to have been finally exorcised. The current financial crisis, however, has vindicated him. For Schumpeter …, capitalism rightly meant, not just individual property rights, but the ability to ‘create money from nothing.’ This is such an …

The paper focuses attention on Schumpeter’s achievements in his classic contribution and how these relate to the …, Schumpeter was no ‘Marxist’. He shared Böhm’s view that profits are not due to ‘exploitation’, but thought that the latter …’s attack on Marx was a failure. There are remarkable differences, but also similarities between the analyses of Schumpeter and …

A general Darwinian framework is employed to arrive at an interpretation of Schumpeter's work that brings out clearly … its specific evolutionary aspects. Schumpeter's theory of economic evolution is seen to be still highly relevant to …