The Beat of the Economic Heart: Joseph Schumpeter and Arthur Spiethoff on Business Cycles

Heinz Kurz

MPRA Paper from University Library of Munich, Germany

Abstract: The paper discusses the relationship between Arthur Spiethoff and Joseph A. Schumpeter, the men and their works. Had it not been for Spiethoff Schumpeter would in all probability have forever been lost to scientific work. It was Spiethoff who brought the Austrian back to academia and research after a sequence of serious mishaps in politics and banking. Spiethoff's contribution to an analysis of business cycles is then summarized and important similarities and some differences between it and Schumpeter's are pointed out. The view of Spiethoff and Schumpeter that cycles are endogenous and cannot possibly be eliminated without at the same time eliminating the dynamism of the capitalist economy is then couterposed with views of some of their contemporaries and particularly modern mainstream macroeconomics that this is not so.

Keywords: Schumpeter; Spiethoff; business cycles; innovations; creative destruction (search for similar items in EconPapers)
JEL-codes: B31 E32 O12 O31 (search for similar items in EconPapers)
Date: 2010-01
New Economics Papers: this item is included in nep-his, nep-hpe and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:20429

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