Theory of Economic Development An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle

ISBN-10: 0878556982
ISBN-13: 9780878556984
Edition: 1983
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Description:  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,  More...

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Book details

List price: $30.95
Copyright year: 1983
Publisher: Transaction Publishers
Publication date: 1/1/1982
Binding: Paperback
Pages: 244
Size: 6.25" wide x 9.25" long x 0.75" tall
Weight: 1.144
Language: English

 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 businessman.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.

John E. Elliott is professor of economics, University of Southern California. He has edited the volumes Economic Issues and Policies and Competing Philosophies in American Political Economies

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