Environmental policy instruments have an impact on the incentives to invest in environmental R&D and this link should deserve careful consideration when introducing new instruments. Some authors argue that environmental taxes and tradable permits have rather comparable impacts on environmental...

In Capitalism, Socialism and Democracy (CSD, 1942), Schumpeter presents his paradoxical thesis that capitalism will destroy its own foundation, not by failure but by its success. He argues that the emergence of unfavourable circumstances will activate strong opposition from social critics and...