Logo
Munich Personal RePEc Archive

Schumpeter and the essence of profit

Kakarot-Handtke, Egmont (2011): Schumpeter and the essence of profit.

This is the latest version of this item.

[img]
Preview
PDF
MPRA_paper_32641.pdf

Download (374kB) | Preview

Abstract

Schumpeter had a clear vision of the developing economy, but he did not formalize it. The quest for a germane formal basis is in the following guided by the general question: what is the minimum set of foundational propositions for a consistent reconstruction of the evolving money economy? We start with three structural axioms. The claim of generality entails that it should be possible to free Schumpeter’s approach from its irksomeWalrasian legacy and to give a consistent formal account of the elementary circular flow that served him as a backdrop for the analysis of the entrepreneur-driven market system.

Available Versions of this Item

Atom RSS 1.0 RSS 2.0

Contact us: mpra@ub.uni-muenchen.de

This repository has been built using EPrints software.

MPRA is a RePEc service hosted by Logo of the University Library LMU Munich.