The Theory Of Economic Development

Author : Joseph A. Schumpeter
Publisher : Routledge
Page : 206 pages
File Size : 43,8 Mb
Release : 2021-05-16
Category : Business & Economics
ISBN : 9781000385892

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The Theory of Economic Development by Joseph A. Schumpeter Pdf

Joseph Schumpeter (1883–1950) is one of the most fascinating and influential economists of the twentieth century, renowned for his brilliant and unorthodox insights into the nature of capitalism. His students include leading economists such as Paul Samuelson, Robert Solow and the former chairman of the Federal Reserve, Alan Greenspan. The Theory of Economic Development is one of Schumpeter's most important books and the one that made him famous. He poses a fundamental question: why does economic development proceed cyclically rather than evenly? Turning prevailing economic theory, which approached economics as equilibrium, on its head, Schumpeter argues it is because economics is constantly transformed by its own internal forces. These forces are the 'circular flow' of economic life; economic development, characterised by disruption and innovation; and finally, the levers that push and pull capitalism including credit, profit and interest. These are all manifested in the ‘business cycle’, one of Schumpeter's major contributions to understanding economics and now a perennial feature of virtually all economics and business curricula. He is also the first economist to place the entrepreneur at the heart of capitalism, anticipating subsequent fascination with entrepreneurship in popular business and management writing. Schumpeter also lays the groundwork for his subsequent, highly influential idea of the 'creative destruction' characteristic of radical and rapid economic change. The Theory of Economic Development remains a vital, magisterial account of economics and the nature of capitalism whose many insights remain highly relevant today. This Routledge Classics edition includes a new Introduction by Richard Swedberg.

Author : Jürgen G. Backhaus
Publisher : Springer Science & Business Media
Page : 356 pages
File Size : 44,9 Mb
Release : 2006-04-11
Category : Business & Economics
ISBN : 9780306480829

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Joseph Alois Schumpeter by Jürgen G. Backhaus Pdf

Joseph Alois Schumpeter is arguably the most important economist of the 20th century. Most readers are familiar with his Theory of Economic Development and his classic Capitalism, Socialism and Democracy. Less well-known are his seminal works published before he left Europe for the United States in 1942. In particular for the first time the missing Chapter Seven of his Theory of Economic Development has been published in this volume. It tries to put Economic Development into the broader context of culture, law and policy. Many of his earlier writings display a similar integrative approach and are therefore often treated as sociological writings. As Capitalism, Socialism and Democracy shows, he did not dissociate the different social sciences in his own mind but rather strove to keep the unity of the social sciences. Entrepreneurship, style and vision are the unifying concepts of his work.

Author : Sung-Hee Jwa
Publisher : Edward Elgar Publishing
Page : 232 pages
File Size : 49,7 Mb
Release : 2017-06-30
Category : Capitalism
ISBN : 9781785367991

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A General Theory of Economic Development by Sung-Hee Jwa Pdf

This book makes the bold attempt at proposing a new general theory of economic development. The main premise is that economic institutions and policies must embody ‘economic discrimination’ if there is to be any chance of real economic development. By economic discrimination, the author means ‘treating differences differently’ by selecting and supporting economic entities and behaviour that contribute positively to the economy. The book identifies markets, government and corporations as the ‘holy trinity of economic development’, that is, the three most important institutions that must work together via economic discrimination to steer the economy towards real transformative progress. The book also warns against the current trend of economic egalitarianism or ‘not treating differences differently’ because it destroys economic incentives and results in an array of economic problems including growth stagnation.

Author : David de la Croix,Philippe Michel
Publisher : Cambridge University Press
Page : 400 pages
File Size : 53,7 Mb
Release : 2002-10-24
Category : Business & Economics
ISBN : 0521001153

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A Theory of Economic Growth by David de la Croix,Philippe Michel Pdf

This book provides an in-depth treatment of the overlapping generations model in economics incorporating production.

Author : Joseph A. Schumpeter
Publisher : Unknown
Page : 0 pages
File Size : 43,8 Mb
Release : 2009
Category : Electronic
ISBN : OCLC:1376444046

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The Theory of Economic Development by Joseph A. Schumpeter Pdf

Schumpeter first reviews the basic economic concepts that describe the recurring economic processes of a commercially organized state in which private property, division of labor, and free competition prevail. These constitute what Schumpeter calls "the circular flow of economic life," such as consumption, factors and means of production, labor, value, prices, cost, exchange, money as a circulating medium, and exchange value of money. The principal focus of the book is advancing the idea that change (economic development) is the key to explaining the features of a modern economy. Schumpeter emphasizes that his work deals with economic dynamics or economic development, not with theories of equilibrium or "circular flow" of a static economy, which have formed the basis of traditional economics. Interest, profit, productive interest, and business fluctuations, capital, credit, and entrepreneurs can better be explained by reference to processes of development. A static economy would know no productive interest, which has its source in the profits that arise from the process of development (successful execution of new combinations). The principal changes in a dynamic economy are due to technical innovations in the production process. Schumpeter elaborates on the role of credit in economic development; credit expansion affects the distribution of income and capital formation. Bank credit detaches productive resources from their place in circular flow to new productive combinations and innovations. Capitalism inherently depends upon economic progress, development, innovation, and expansive activity, which would be suppressed by inflexible monetary policy. The essence of development consists in the introduction of innovations into the system of production. This period of incorporation or adsorption is a period of readjustment, which is the essence of depression. Both profits of booms and losses from depression are part of the process of development. There is a distinction between the processes of creating a new productive apparatus and the process of merely operating it once it is created. Development is effected by the entrepreneur, who guides the diversion of the factors of production into new combinations for better use; by recasting the productive process, including the introduction of new machinery, and producing products at less expense, the entrepreneur creates a surplus, which he claims as profit. The entrepreneur requires capital, which is found in the money market, and for which the entrepreneur pays interest. The entrepreneur creates a model for others to follow, and the appearance of numerous new entrepreneurs causes depressions as the system struggles to achieve a new equilibrium. The entrepreneurial profit then vanishes in the vortex of competition; the stage is set for new combinations. Risk is not part of the entrepreneurial function; risk falls on the provider of capital. (TNM).

Author : W. Arthur Lewis
Publisher : Unknown
Page : 128 pages
File Size : 43,9 Mb
Release : 1970
Category : Electronic
ISBN : OCLC:473363217

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The Theory of Economic Growth by W. Arthur Lewis Pdf

Author : Joseph Alois Schumpeter
Publisher : Transaction Publishers
Page : 324 pages
File Size : 49,7 Mb
Release : 1983
Category : Business & Economics
ISBN : 0878556982

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The Theory of Economic Development by Joseph Alois Schumpeter Pdf

Schumpeter proclaims in this classical analysis of capitalist society first published in 1911 that economics is a natural self-regulating mechanism when undisturbed by "social and other meddlers." In his preface he argues that despite weaknesses, theories are based on logic and provide structure for understanding fact. Of those who argue against him, Schumpeter asks a fundamental question: "Is it really artificial to keep separate the phenomena incidental to running a firm and the phenomena incidental to creating a new one?" In his answers, Schumpeter offers guidance to Third World politicians no less than First World businessman. In his substantial new introduction John E. Elliott discusses the salient ideas of The Theory of Economic Development against the historical background of three great periods of economic thought in the last two decades.

Author : Joan Robinson
Publisher : Springer
Page : 150 pages
File Size : 46,6 Mb
Release : 1965-01-01
Category : Business & Economics
ISBN : 9781349006267

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Essays in the Theory of Economic Growth by Joan Robinson Pdf

Author : Robert Huggins,Piers Thompson
Publisher : Oxford University Press, USA
Page : 323 pages
File Size : 51,7 Mb
Release : 2021-01-14
Category : Business & Economics
ISBN : 9780198832348

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A Behavioural Theory of Economic Development by Robert Huggins,Piers Thompson Pdf

This book establishes a novel behavioural theory of economic development to illustrate that differences in human behaviour across cities and regions, both individually and collectively, are a significant deep-rooted cause of uneven development within and across nations.

Author : Y. S. Brenner
Publisher : Routledge Library Editions: De
Page : 288 pages
File Size : 46,5 Mb
Release : 2013-04-11
Category : Business & Economics
ISBN : 0415851645

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Theories of Economic Development and Growth by Y. S. Brenner Pdf

First published in 1966, this work summarises the theories of economic growth, both ancient and modern, and presents them in a form particularly suitable for university students, both in the developing world and elsewhere. The objective is to enable students to assess the major factors making for economic development and to encourage them to think about ways of applying their knowledge to the particular problems of their own countries. In addition there is a special survey of growth and of limiting factors in the economies of underdeveloped countries, with an important analysis of the economic results of planning in the USSR.

Author : E. Wayne Nafziger
Publisher : Cambridge University Press
Page : 863 pages
File Size : 51,9 Mb
Release : 2012-03-26
Category : Business & Economics
ISBN : 9780521765480

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Economic Development by E. Wayne Nafziger Pdf

E. Wayne Nafziger analyzes the economic development of Asia, Africa, Latin America, and East-Central Europe. The book is suitable for those with a background in economics principles. Nafziger explains the reasons for the recent fast growth of India, Poland, Brazil, China, and other Pacific Rim countries, and the slow, yet essential, growth for a turnaround of sub-Saharan Africa. The fifth edition of the text, written by a scholar of developing countries, is replete with real-world examples and up-to-date information. Nafziger discusses poverty, income inequality, hunger, unemployment, the environment and carbon-dioxide emissions, and the widening gap between rich (including middle-income) and poor countries. Other new components include the rise and fall of models based on Russia, Japan, China/Taiwan/Korea, and North America; randomized experiments to assess aid; an exploration of whether information technology and mobile phones can provide poor countries with a shortcut to prosperity; and a discussion of how worldwide financial crises, debt, and trade and capital markets affect developing countries.

Author : Alain de Janvry,Elisabeth Sadoulet
Publisher : Routledge
Page : 573 pages
File Size : 44,6 Mb
Release : 2021-05-30
Category : Business & Economics
ISBN : 9781000378535

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Development Economics by Alain de Janvry,Elisabeth Sadoulet Pdf

This second edition of Development Economics: Theory and Practice continues to provide students and practitioners with the perspectives and tools they need to think analytically and critically about the current major economic development issues in the world. Alain de Janvry and Elisabeth Sadoulet identify seven key dimensions of development—growth, poverty, vulnerability, inequality, basic needs, sustainability, and quality of life—and use them to structure the contents of the text. The book gives a historical perspective on the evolution of thought in development. It uses theory and empirical analysis to present readers with a full picture of how development works, how its successes and failures can be assessed, and how alternatives can be introduced. The authors demonstrate how diagnostics, design of programs and policies, and impact evaluation can be used to seek new solutions to the suffering and violence caused by development failures. In the second edition, more attention has been given to ongoing developments, such as: pursuit of the Sustainable Development Goals continuously rising global and national inequality health as a domestic and international public good cash transfers for social protection carbon trading for sustainability This text is fully engaged with the most cutting-edge research in the field and equips readers with analytical tools for impact evaluation of development programs and policies, illustrated with numerous examples. It is underpinned throughout by a wealth of student-friendly features, including case studies, quantitative problem sets, end-of-chapter questions, and extensive references. Excel and Stata exercises are available as digital supplements for students and instructors. This unique text is ideal for those taking courses in development economics, economic growth, and development policy, and will provide an excellent foundation for those wishing to pursue careers in development.

Author : Y. S. Brenner
Publisher : New York : Praeger
Page : 296 pages
File Size : 52,7 Mb
Release : 1967
Category : Economics
ISBN : UCAL:B4149470

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Theories of Economic Development and Growth by Y. S. Brenner Pdf

Author : Jaime Ros
Publisher : University of Michigan Press
Page : 452 pages
File Size : 50,7 Mb
Release : 2001
Category : Business & Economics
ISBN : 0472088475

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Development Theory and the Economics of Growth by Jaime Ros Pdf

Why are some countries richer than others? Why do some economies grow so much faster than others do? Do economies tend to converge at similar levels of per capita income? Or is catching up simply impossible? These questions have vast implications for human welfare. After a period of lack of interest in growth theory, they are back on the research agenda of mainstream economics. They have also been at the heart of development economics since its inception some decades ago. This book endeavors to answer such questions by blending classical contributions to development theory with recent developments in the economics of growth. The unifying theme is that early theoretical insights and accumulated empirical knowledge of development economics have much to offer to research in the theory and empirics of economic growth. With the help of a number of recent contributions, the ideas and insights of the classical literature in development economics can be given simple and rigorous formulations. Together, they amount to an approach to growth theory that can overcome the long-recognized empirical shortcomings of neoclassical growth economics, while being free from the objections that can be raised against the new brand of endogenous growth theory. In addition to an original thesis on the contribution that early development theory can make to the research program of modern growth economics, the book provides professional and research economists and graduate students with an evaluation of the strengths and limitations of the different strands of inquiry in the modern economics of growth. In addition it presents findings on comparative growth performance across countries. Jaime Ros is Professor of Economics and Faculty Fellow of the Helen Kellogg Institute of International Studies, University of Notre Dame.

Author : Graham Hacche
Publisher : Palgrave
Page : 349 pages
File Size : 46,7 Mb
Release : 1979
Category : Economic development
ISBN : 0333235711

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The Theory of Economic Growth by Graham Hacche Pdf