Schumpeterian, evolutionary theory of innovation and competition, and the classical, Sraffian theory of prices and distribution. Can … be learned to enrich these very different approaches to the long period evolution of capitalist economies. Schumpeter … system to the potential generated by the new ways of doing things. Schumpeter sensed this with his account of imitative …

Schumpeter's and Hayek's view of market coordination as being not about efficiency, but about endogenous change and …