1. Schumpeter’s Creative Destruction as a Radical Departure: New Paradigm for Analyzing Capitalism
- Author:
- Leonardo Burlamaqui
- Publication Date:
- 03-2022
- Content Type:
- Special Report
- Institution:
- Brazilian Center for International Relations (CEBRI)
- Abstract:
- The paper’s core contribution is a reinterpretation of Schumpeter’s development theory, through the "creative destruction paradigm" provided in Capitalism, Socialism and Democracy (CSD). By linking the core propositions of the latter with the brilliant, but underdeveloped, innovations from The Theory of Economic Development (TED) and some largely ignored historical and institutional insights provided in Business Cycles (BC), the seeds of a new analytical framework emerge. One which is completely out of balance, centered on finance, entrepreneurial action, uncertainty, institutions, and competition by means of innovation.
- Topic:
- Development, Political Economy, Capitalism, Finance, Entrepreneurship, and Innovation
- Political Geography:
- Global Focus