
- 320 pages
- English
- ePUB (mobile friendly)
- Available on iOS & Android
Theory of Economic Development
About this book
Schumpeter proclaims in this classical analysis of capitalist society first published in 1911 that economics is a natural self-regulating mechanism when undisturbed by "social and other meddlers." In his preface he argues that despite weaknesses, theories are based on logic and provide structure for understanding fact.
Of those who argue against him, Schumpeter asks a fundamental question: "Is it really artificial to keep separate the phenomena incidental to running a firm and the phenomena incidental to creating a new one?" In his answers, Schumpeter offers guidance to Third World politicians no less than First World businesspeople.
In his substantial new introduction, John E. Elliott discusses the salient ideas of The Theory of Economic Development against the historical background of three great periods of economic thought in the last two decades.
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Information
Table of contents
- Cover Page
- Title Page
- Copyright Page
- Contents
- Translator’s Note
- Introduction to the Transaction Edition
- Preface to the English Edition
- I. The Circular Flow Of Economic Life As Conditioned By Given Circumstances
- II. The Fundamental Phenomenon of Economic Development
- III. Credit and Capital
- IV. Entrepreneurial Profit
- V. Interest On Capital
- VI. The Business Cycle