The beat of the economic heart

Heinz Kurz

Journal of Evolutionary Economics, 2015, vol. 25, issue 1, 147-162

Abstract: The paper discusses the silimar, but in some respects different explanations of business cycles by Schumpeter and Arthur Spiethoff, his elderly friend and colleague. Spiethoff brought Schumpeter back into academics after the latter’s not very successful careers as a politician and a banker. Both insisted that cycles are endogenous and cannot possibly be eliminated without eliminating the dynamismof the capitalist economy. They thought that theoretical and historical studies were not mutually exclusive, but complementary. The gulf separating pure theory and historical studies since the so-called Methodenstreit was detrimental to the development of economics. Copyright Springer-Verlag Berlin Heidelberg 2015

Keywords: Business cycle; Creative destruction; Economic development; Economic dynamics; Innovation; Historical School; Schumpeter; Joseph; Spiethoff; Arthur; B10; B15; B31; D33; E12; E22; O31; O33 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:spr:joevec:v:25:y:2015:i:1:p:147-162

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DOI: 10.1007/s00191-013-0329-1

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