Schumpeter and Goodwin

Hanappi, Hardy (2014): Schumpeter and Goodwin.

Abstract

This paper discusses the works of Joseph Schumpeter and Richard Goodwin using the common perspective that both were theoretical mavericks of mainstream economic theory development in the 20th century. In particular the fact that their activities overlapped during their cooperation at Harvard University is explored. Their contributions are interpreted as entrepreneurial activity in the domain of theory building - with some spillovers to economic policy intervention. It is argued that maverick theoretical activity is indispensable for progress in evolutionary political economy.

• Item Type: MPRA Paper
• Language: English
• Keywords: Evolutionary political economy, Schumpeter, Goodwin, history of thought
• Subjects: B - History of Economic Thought, Methodology, and Heterodox Approaches > B3 - History of Economic Thought: Individuals; B - History of Economic Thought, Methodology, and Heterodox Approaches > B3 - History of Economic Thought: Individuals > B31 - Individuals; B - History of Economic Thought, Methodology, and Heterodox Approaches > B4 - Economic Methodology > B41 - Economic Methodology; B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B50 - General; O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O31 - Innovation and Invention: Processes and Incentives

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