Schumpeterian aspects of growth and its correlative classical and neoclassical approaches

Sergio A. Berumen () and Francisco Llamazares ()
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Sergio A. Berumen: Departamento de Economía Aplicada I. Facultad de Ciencias Económicas. Universidad Complutense de Madrid.
Francisco Llamazares: ESIC Business & Marketing School

Papeles de Europa, 2015, vol. 28, issue 1, 116-137

Abstract: Economic growth is a central concept in economic theory. Modern societies regard growth as an important determinant for rising standards of living. These effects can be observed not only in more goods and services but also in brand new products and processes. Investment in human capital is regarded as the very source of long-term, sustainable economic growth. The purpose of this article is to provide a brief description of economic growth, how to approach its measurement, and to provide a brief review of the Schumpeterian thought and the main schools that have undertaken its analysis.

Keywords: Economic growth; Schumpeterian thought; Classical and Neoclassical Approaches. (search for similar items in EconPapers)
JEL-codes: B25 B41 O42 P59 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:ucm:padeur:v:28:y:2015:i:1:p:116-137

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DOI: 10.5209/rev_PADE.2015.v28.n1.50183

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