 RAILROADIZATION AS SCHUMPETER'S STANDARD CASE: AN EVOLUTIONARY-ECOLOGICAL ACCOUNTEsben Sloth Andersen Industry and Innovation, 2002, vol. 9, issue 1-2, 41-78 Abstract: In his 1939 book Business Cycles, Schumpeter declared that the railroad and its consequences for the economic system is the standard example of his analysis of capitalist evolution. This paper demonstrates that Schumpeter went quite far in the analysis of his case of "railroadization" and in suggesting how his model could be adapted to it, but today we see that he failed because of his lack of adequate analytical tools. In the light of modern evolutionary economics and evolutionary-ecological analysis, the paper revisits Schumpeter's suggestions. The parameters of the logistic equation and the Lotka-Volterra equations are shown to be central variables in an evolutionary process that includes different types of economic agent. The specification of the roles in this process helps to redefine entrepreneurs, managers, and financiers. Furthermore, a new interpretation of the system-level dynamics is made, both in general and in relation to the case of railroadization. Date: 2002 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:taf:indinn:v:9:y:2002:i:1-2:p:41-78 Ordering information: This journal article can be ordered from DOI: 10.1080/13662710220123617 Access Statistics for this article Industry and Innovation is currently edited by Associate Professor Mark Lorenzen More articles in Industry and Innovation from Taylor & Francis Journals |
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