Development

Author: Schumpeter, Joseph A.

Source: Journal of Economic Literature, Volume 43, Number 1, March 2005 , pp. 108-120(13)

Publisher: American Economic Association

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Abstract:

The present article introduces Development, a new, unpublished and hitherto unknown article by Joseph A. Schumpeter from 1932. Development is remarkable because it significantly adds to Schumpeter's known works on a number of issues that were central to his theory of economic development. Development shows that Schumpeter considered the explanation of novelty as the most important unsolved scientific problem. Schumpeter doubts the explanatory value of entrepreneurship and indicates that theoretical advances might be forthcoming that can help a better understanding of the social dynamics which gives rise to novelty.

Document Type: Research article

DOI: http://dx.doi.org/10.1257/0022051053737825

Publication date: 2005-03-01

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The Journal of Economic Literature (JEL) began publication in 1969 under the auspices of the American Economic Association with quarterly issues appearing in March, June, September, and December. JEL contains survey and review articles, book reviews, an annotated bibliography of newly published books, and a list of current dissertations in North American universities.
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