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Schumpeter's unknown article Development - A missing link between Schumpeter's theories of economic development, business cycles and democracy

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The present article introduces Development, a new, unpublished and hitherto unknown articlewritten by Joseph A. Schumpeter. It was originally written in 1932 and titled Entwicklung.Development is remarkable since it helps understand the unity of Schumpeter’s work andsignificantly adds to Schumpeter’s known works on a number of issues that were central to histheory of economic development. Development shows that Schumpeter considered the explanationof novelty as the most important unsolved scientific problem. For Schumpeter, entrepreneurshipremained a good description of novelty, but, by his own admission in Development, nothing isexplained thereby. On the optimistic side, Schumpeter indicates that theoretical advances might beforthcoming that can help a better understanding of the social dynamics which gives rise to novelty.

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Markus C. Becker, Hans Ulrich Esslinger, Ulrich Hedtke, Thorbjørn Knudsen

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Resource language

eng

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application/pdf

Resource resource URL

http://hdl.handle.net/10398/6910

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