 SCHUMPETER'S "LOST" SEVENTH CHAPTER: A CRITICAL OVERVIEWHelge Peukert Industry and Innovation, 2002, vol. 9, issue 1-2, 79-89 Abstract: The "lost" seventh chapter to Schumpeter's first edition of The Theory of Economic Development was planned as a synthesis of the results and as presenting the overall configuration of the economy, as the title of the chapter "The economy as a whole" indicates. The article discusses Schumpeter's exposition of the core process, external data changes and his reception of the classics. Further the article discusses Schumpeter's views on the notion of the organic unity of the economy, the welfare problem, his synthesis of statics and dynamics, the "greatness" of entrepreneurs and their role in culture. The conclusion is that an elaborated systems approach comparable to that of Sombart is (still) missing. The plan of a general theory of culture, society and economy, following the insight of Chapter 7 that the social process is one indivisible whole, was formulated but not realized. It is argued that Schumpeter's later work Capitalism, Socialism and Democracy (1942) comes closest to this program. Chapter 7 is not only an important document in the history of economic thought but is also one of the first explicit claims to develop a holistic, evolutionary and dynamic approach to economy and society. 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:79-89 Ordering information: This journal article can be ordered from DOI: 10.1080/13662710220123626 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 |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.