The Creative Response in Economic History

  title={The Creative Response in Economic History},
  author={Joseph Alois Schumpeter},
  journal={The Journal of Economic History},
  pages={149 - 159}
  • J. Schumpeter
  • Published 1 November 1947
  • Economics, History
  • The Journal of Economic History
Economic historians and economic theorists can make an interesting and socially valuable journey together, if they will. It would be an investigation into the sadly neglected area of economic change. As anyone familiar with the history of economic thought will immediately recognize, practically all the economists of the nineteenth century and many of the twentieth have believed uncritically that all that is needed to explain a given historical development is to indicate conditioning or causal… 

American Institutional Studies: Present Knowledge and Past Trends

  • J. H. Soltow
  • Economics, History
    The Journal of Economic History
  • 1971
The production of economic history, like that in many fields of scholarly endeavor, increased sharply in the past quarter-century, compared to the rate of output in earlier eras. While the “new”

The Connection between Entrepreneurship and Economic Prosperity: Theory and Evidence

This chapter1 argues that there is a crucial connection between entrepreneurship and economic prosperity. Although some readers might consider the relationship almost a tautology—after all, don’t we


Economic historians of the late nineteenth and early twentieth centuries devoted considerable attention to businessmen and firms. They pointed in their writings to the achievements of individual

Role of History in Economic Theory: Critical Realism and Joseph Schumpeter's Plea for Entrepreneurial History

but are constrained and enabled by “concrete living institutions” and social, economic and political factors, and therefore “...they can best be examined in concrete historical settings.” (Cole, 1946

Political Economy and the Response to Socialism in Britain, 1870–1914

  • J. Mason
  • Economics, History
    The Historical Journal
  • 1980
Political economy suffered a sharp decline in prestige and influence in Britain after 1870. The methods, doctrines and policies of the classical school were called into question by a younger


There is an historical link between the concept of increasing returns, economic growth, and the role of entrepreneurship, which seems to be nowhere in evidence in contemporary theory. Classical

Economic history and economic theory

Since the mid‐1950s the spread of formal models and econometric method has greatly improved the study of the past, giving rise to the ‘new’ economic history; at the same time, the influence of

The Integration of Theory and History

If one accepts Joseph A. Schumpeter’s argument that innovation is the “fundamental phenomenon of economic development,” then to under-stand the process of economic development requires that we study

The Economic Complexity of Innovation as a Creative Response

Evolutionary economics has finally recognized the limits of biological analogies and is now able to apply the tools of complexity analysis. A better appreciation of the Schumpeterian legacy can help

Creative Destruction and Partial Obsolescence in American Economic Development

With the growing emphasis on structural change and Schumpeterian innovation in economic development, the paradoxical concept “creative destruction” has come into wide use among economists and