Schumpeter’s Knowledge Problem—In the Economy and in the Voting Booth

Richard Langlois

A chapter in Schumpeterian Legacy in Modern Times, 2026, pp 471-486 from Springer

Abstract: Abstract I hope to accomplish two things in this paper. First, I will examine my early engagement with Schumpeter and my work analyzing his ideas. This will include (1) my efforts to challenge the notion that Schumpeter somehow changed his views on entrepreneurship and (2) my reconstruction of his perspective on managerialism and my interpretation of what he truly meant by the “obsolescence of the entrepreneur.” Second, I will consider Schumpeter as a Public Choice theorist, reflecting on his contributions to that field in the context of today’s contested populist political environment, contrasting his approach with that of the Virginia School of Public Choice.

Date: 2026
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Working Paper: Schumpeter’s knowledge problem – in the economy and in the voting booth (2026)
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DOI: 10.1007/978-3-032-26294-3_24

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