Search results
Results From The WOW.Com Content Network
Schumpeter criticized John Maynard Keynes and David Ricardo for the "Ricardian vice". According to Schumpeter, both Ricardo and Keynes reasoned in terms of abstract models, where they would freeze all but a few variables.
Plato's dialogue The Republic (c. 380–360 BC) describing an ideal city-state run by philosopher-kings contained references to specialization of labor and to production. According to Joseph Schumpeter, Plato was the first known advocate of a credit theory of money that is, money as a unit of account for debt. [11]
After 1930 the historical school declined or disappeared in most economics departments. It lingered in history departments and business schools. The major influence in the 1930s and 1940s was Joseph Schumpeter with his dynamic, change-oriented, and innovation-based economics. Although his writings could be critical of the school, Schumpeter's ...
Neo-Schumpeterian economics is a school of thought that places technological innovation at the core of economic growth and transformation processes. It is inspired by the work of Joseph Schumpeter who coined the term creative destruction for the continuous introduction of technological change that drives growth by replacing old, less productive structures with new, more productive ones.
The Historical school is also a source of Joseph Schumpeter's dynamic, change-oriented, and innovation-based economics. Although his writings could be critical of the School, Schumpeter's work on the role of innovation and entrepreneurship can be seen as a continuation of ideas originated by the Historical School, especially the work of von ...
The expression "creative destruction" was popularized by and is most associated with Joseph Schumpeter, particularly in his book Capitalism, Socialism and Democracy, first published in 1942. Already in his 1939 book Business Cycles , he attempted to refine the innovative ideas of Nikolai Kondratieff and his long-wave cycle which Schumpeter ...
Green Bay Packers quarterback Jordan Love and his fiancee Ronika Stone watch a fireworks show during Family Night at Lambeau Field.
The Austrian economist Joseph Schumpeter, a forerunner of the Austrian School of economics, emphasized the creative destruction of capitalism—the fact that market economies undergo constant change. The Austrian economists Ludwig von Mises and Friedrich Hayek were among the leading defenders of market economy against 20th century proponents of ...