• Corpus ID: 152358274

The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle

  title={The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle},
  author={Joseph Alois Schumpeter},
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… 
Financing the Capital Development of the Economy: A Keynes-Schumpeter-Minsky Synthesis
This paper discusses the role that finance plays in promoting the capital development of the economy, with particular emphasis on the current situation of the United States and the United Kingdom. We
Credit Guidance for a Desired Economy: An Original Institutional Economics Critique of Financialization
  • N. McDonagh
  • Economics
    Review of Radical Political Economics
  • 2021
Financialization describes the turn to speculative asset trading that has become increasingly central to economic life in recent decades. Critics argue this has occurred at the expense of the “real
Banking and economic growth : case of the Gambia
This research advances four theoretical approaches in an attempt to relate the banking activities to the real economic activities. It starts with the Schumpeter’s circular flow of creditary
The Rate of Interest, Economic Growth, and Inflation: An Alternative Theoretical Perspective
The premise of this paper is that in a monetary production economy, policy decisions of the central bank, or more generally the ‘monetary authority’, set the tone not only for nominal interest rates
Bank Credit as a Source of Financing Innovative Development of Economy
The article states that the current conditions of the development of the Ukrainian economy require the introduction of innovations, which increases the need for using balanced sources of their
Entrepreneurship and Regional Growth : Exploration into the Determinants of the Employment Effects of New Business Formation
Economic growth is a key issue in economic research and a primary concern in economic policy making. After World War II, Western economies experienced historically high rates of economic growth.
A re-assessment of national credit policies for economic development with global markets
A developing country is often characterised as one which is endowed with abundant labour, exhibits a dualistic structure of production, is heavily dependent on imports of capital goods and
The theory of economic development – An inquiry into profits, capital, credit, interest, and the business cycle
Joseph Alois Schumpeter’s The Theory of Economic Development – An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle (1934) is clearly one of the most influential economic text...
The Theory of Economic Development of J.A. Schumpeter: Key Features
This paper comprises translation into English the preface of Iurii Bazhal to the first Ukrainian edition of Joseph Schumpeter’s famous fundamental book “The Theory of Economic Development: An Inquiry
Mesoeconomics: Business cycles, entrepreneurship, and economic crisis in commercial building markets
Both neoclassical and Keynesian economists have widely favored the use of equilibrium models to understand economic activity, but dramatic periods of change such as the current global economic