Schumpeter and the essence of profit

Egmont Kakarot-Handtke ()

MPRA Paper from University Library of Munich, Germany

Abstract: Schumpeter had a clear vision of the developing economy, but he did not formalize it. The quest for a germane formal basis is in the following guided by the general question: what is the minimum set of foundational propositions for a consistent reconstruction of the evolving money economy? We start with three structural axioms. The claim of generality entails that it should be possible to free Schumpeter’s approach from its irksomeWalrasian legacy and to give a consistent formal account of the elementary circular flow that served him as a backdrop for the analysis of the entrepreneur-driven market system.

Keywords: New framework of concepts; Structure-centric; Axiom set; Profit; Money; Credit; Structural stress; Catching-up process; Monopoly (search for similar items in EconPapers)
JEL-codes: B41 E10 E25 E30 E40 (search for similar items in EconPapers)
Date: 2011-05-29
New Economics Papers: this item is included in nep-hme, nep-hpe, nep-mac and nep-pke
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/31176/1/MPRA_paper_31176.pdf original version (application/pdf)
https://mpra.ub.uni-muenchen.de/32250/1/MPRA_paper_32250.pdf revised version (application/pdf)
https://mpra.ub.uni-muenchen.de/32318/1/MPRA_paper_32318.pdf revised version (application/pdf)
https://mpra.ub.uni-muenchen.de/32641/1/MPRA_paper_32641.pdf revised version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:31176

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().