Schumpeter's Evolutionary Economics: A Theoretical, Historical and Statistical Analysis of the Engine of Capitalism

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Anthem Press, 2009 - Business & Economics - 493 pages
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'Schumpeter's Evolutionary Economics' fills the void of analysis and serves as a standard reference work on this pioneering thinker by introducing novel interpretations of his five major books and tracing the development of his intellectual framework. Schumpeter's first German book on the nature of theoretical economics (1908) is still untranslated, but it demonstrates how he developed his evolutionary research programme by studying the inherent limitations of equilibrium economics. He presented core results on economic evolution and extended evolutionary analysis to all social sciences in the first German edition of 'The Theory of Economic Development' (1912). He made a partial reworking of the theory of economic evolution in later editions, and this reworking was continued in 'Business Cycles' (1939). Here Schumpeter also tried to handle the statistical and historical evidence on the waveform evolution of the capitalist economy. 'Capitalism, Socialism and Democracy' (1942) modified the model of economic evolution and added evolutionary contributions to other social sciences. Finally, 'History of Economic Analysis', published posthumously, was based on his evolutionary theory of the history of economics. Andersen's analysis of Schumpeter's five books expounds the progress he made within his research programme, and examines his lack of satisfactory tools for evolutionary analysis. In so doing it places our understanding of Schumpeter on a new and firmer footing; it also suggests how modern evolutionary economics can relate to his work.

Esben Sloth Andersen was awarded the Gunnar Myrdal Prize for 2010 for 'Schumpeter's Evolutionary Economics'. The Myrdal Prize is awarded annually for the best monograph on a theme broadly in accord with the research perspectives of the European Association for Evolutionary Political Economy.

 

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Contents

Equilibrium Economics and Evolutionary Economics
21
From Walrasian Statics To Evolutionary Dynamics
39
Elitist Dichotomies and General Evolutionary Analysis
67
Evolutionary Dynamics in the Capitalist Economy
99
Approaching the Evolutionary Trilogy
137
The Capitalist Engine and SocioPolitical Evolution
155
Waveform Economic Evolution and Business Cycles
189
The Basic Mechanisms of Economic Evolution
241
Beyond Schumpeters Evolutionary Economics
369
A Chronology
413
Accessing and Grouping Schumpeters Works
421
Some Tools for Evolutionary Analysis
427
Schumpeters Works
447
Other References
461
Index of Schumpeters Works
483
Index of Persons
489

Schumpeter and the Years of High Theory
297
Evolutionary Analysis and the History of Economics
327

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About the author (2009)

Esben Sloth Andersen is Professor of Evolutionary Economics in the Department of Business Studies, Aalborg University.

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