The Limits of Schumpeter's Business Cycles

Esben Sloth Andersen

Industry and Innovation, 2006, vol. 13, issue 1, 107-116

Abstract: Schumpeter designed Business Cycles as his major work, but it has never received much attention. The problem is partly related to its complex treatment of the theory of waveform economic evolution and the related study of the statistics and history of 150 years of capitalist evolution, but the book also makes a deliberate analytical delimitation: the emphasis on economic evolution and the placement of institutional change as an external factor. This definition of the task did not allow Schumpeter to make a full-blown study of the history of capitalist evolution. To some extent, he overcame that problem in Capitalism, Socialism and Democracy, but we have to return to the works of his youth to understand his conception of the coevolutionary processes of socio-economic life.

Keywords: Analysis of economic evolution; socio-economic coevolution; Joseph A. Schumpeter; Business Cycles (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (1)

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DOI: 10.1080/13662710500513532

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