'Theory of Economic Development' by Joseph Schumpeter is a digital EPUB ebook for direct download to PC, Mac, Notebook, Tablet, iPad, iPhone, Smartphone, eReader - but not for Kindle. A DRM capable reader equipment is required. From 1932 until his death in 1950, Schumpeter lived in the US and was a Harvard Professor. In 1933 he taught the first course in mathematical economics at Harvard. In 1934 an English translation of The Theory of Economic Development and in 1939 Schumpeter’s Business Cycles appeared.
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 funda 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 businesspeople.
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. I really liked this book!
The introduction was a good overview of academic economic history and gave good background for the original text. Having read the other two books of the 'trilogy' first (I read the third book, 'Capitalism, Socialism and Democracy' first, 'Business Cycles' second, and *then* this book) I could see where Schumpeter was heading when he started referring to business cycles. I feel bad only giving this book three stars at first, but I'll review my notes and revise the rating I really liked this book! The introduction was a good overview of academic economic history and gave good background for the original text.
Having read the other two books of the 'trilogy' first (I read the third book, 'Capitalism, Socialism and Democracy' first, 'Business Cycles' second, and *then* this book) I could see where Schumpeter was heading when he started referring to business cycles. I feel bad only giving this book three stars at first, but I'll review my notes and revise the rating if there was something else of value that I'm forgetting about.