Schumpeter's Market: Enterprise and Evolution
Examining the evidence from all Schumpeter's published work, the book aims to fill a gap in the literature of economic thought. Partly because Schumpeter was so prolific, partly because he touched on so many inter-related topics, there have been few b
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83 ALLOCATIVE EFFICIENCY
The sociology of socialism
91 CULTURE AND SOCIALISM
92 NATIONAL CHARACTER
93 POWER AND PARTICIPATION
Continuity and change
The capitalist economy
42 THE ENTREPRENEUR
43 ENTREPRENEURSHIP WHAT IT IS NOT
51 INDIVIDUAL AND TEAM
52 COMPETITION AND MONOPOLY
53 MONOPOLY AND INNOVATION
The sociology of capitalism
61 SOCIAL STRATIFICATION
62 IMPERIALISM AND EXCHANGE
The socialist economy
72 FROM CORPORATION TO STATE
73 COUNTERVAILING FORCES
Market and plan
81 PRODUCTIVE EFFICIENCY
82 MARKET SOCIALISM
Continuity change and socialism
The macroeconomics of success
121 GROWTH AND DEVELOPMENT
122 SAVINGS AND INVESTMENT
123 EMPLOYMENT AND PRICES
131 EVOLUTION IN WAVES
132 PEAKS AND TROUGHS
133 CONTINUITY AND BREACH
able Adam Smith allocative efficiency aristocracy banks become bourgeois bourgeoisie bureaucracy Business Cycles capitalist capitalist process cause ceteris paribus competition concentrated consumer corporate capitalism corporatism cost create creative destruction cultural demand dynamic Economic Development economic sociology economic theory economist efficiency enterprise entrepreneur entrepreneurship equilibrium evolution existing expected fact finance firm function future Galbraith growth Hayek Hilferding Imperialism income individual industry innovation institutions intellectuals interest investment Keynes Keynesian labour less logic macroeconomic market socialism Marshall Marx Marxian maximise means Methodological individualism Mises modern monopoly never organisation output past perfect competition planners political possible prediction production profit rational reason recognised rise Schumpeter believed Schumpeter says Schumpeter writes Schumpeter's Schumpeter's economics Schumpeterian sector sense Socialism and Democracy socialist society statism structure success supply Swedberg technological tendency things unemployment values vision Walras wants
Page 18 - The mode of production in material life determines the general character of the social, political and spiritual processes of life. It is not the consciousness of men that determines their existence, but on the contrary their social existence that determines their consciousness.
Page 58 - The bourgeoisie cannot exist without constantly revolutionizing the instruments of production, and thereby the relations of production, and with them the whole relations of society.
Page 58 - Constant revolutionizing of production, uninterrupted disturbance of all social conditions, everlasting uncertainty and agitation distinguish the bourgeois epoch from all earlier ones. All fixed, fast-frozen relations, with their train of ancient and venerable prejudices and opinions, are swept away, all new-formed ones become antiquated before they can ossify. All that is solid melts into air...
Page 57 - The fundamental impulse that sets and keeps the capitalist engine in motion comes from the new consumers' goods, the new methods of production or transportation, the new markets, the new forms of industrial organization that capitalist enterprise creates.
Page 57 - I may use that biological term — that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one.
Page 58 - Schumpeter (1975/1942, p. 132) argues that "the function of entrepreneurs is to reform or revolutionize the pattern of production by exploiting an invention or, more generally, an untried technological possibility for producing a new commodity or producing an old one in a new way, by opening up a new source of supply of materials or a new outlet for production, by reorganizing an industry and so on.
Page 81 - As soon as we go into details and inquire into the individual items in which progress was most conspicuous, the trail leads not to the doors of those firms that work under conditions of comparatively free competition but precisely to the doors of the large concerns...
Page 137 - Not ideas, but material and ideal interests, directly govern men's conduct. Yet very frequently the ‘world images' that have been created by ‘ideas' have, like switchmen, determined the tracks along which action has been pushed by the dynamic of interest.
Page 86 - It is, however, the producer who as a rule initiates economic change, and consumers are educated by him if necessary; they are, as it were, taught to want new things, or things which differ in some respect or other from those which they have been in the habit of using. Therefore, while it is permissible and even necessary to consider consumers...