Economics at your fingertips  

On the intellectual foundations of Hayek’s and Schumpeter’s economics: an appraisal

Richard Arena

Journal of Evolutionary Economics, 2015, vol. 25, issue 1, 77-90

Abstract: Several contributions have been devoted to a comparison between the works of Joseph Schumpeter and Friedrich Hayek, both of them rooted in the Austrian tradition but they generally concerned specific aspects of their respective global contributions as, for instance, monetary theory, business cycles economic evolution or price theory. These partial comparisons may explain why some confusion is today prevailing concerning the similarities and differences between Hayekian and Schumpeterian approaches. In this paper, we adopt a different approach and try to find the basic theoretical and methodological elements which explain the fundamental compatibility of incompatibility between Hayek’s and Schumpeter’s respective intellectual projects. Specific aspects will not be, however, underestimated or neglected in this contribution but they will not be considered independently from these basic elements. Copyright Springer-Verlag Berlin Heidelberg 2015

Keywords: Hayek; Schumpeter; Austrian School of Economics; Methodological individualism; Quantification; Emergence of Institutions; Economic dynamics; Economic equilibrium; B3; B4; B5 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link) (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: On the intellectual foundations of Hayek’s and Schumpeter’s economics: an appraisal (2015)
Working Paper: On the intellectual foundations of Hayek's and Schumpeter's economics: an appraisal (2012)
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:

Ordering information: This journal article can be ordered from

DOI: 10.1007/s00191-014-0371-7

Access Statistics for this article

Journal of Evolutionary Economics is currently edited by Uwe Cantner, Elias Dinopoulos, Horst Hanusch and Luigi Orsenigo

More articles in Journal of Evolutionary Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

Page updated 2020-11-25
Handle: RePEc:spr:joevec:v:25:y:2015:i:1:p:77-90