Schumpeter in Vienna: A Study Abroad Course

Dalton, John and Logan, Andrew (2020): Schumpeter in Vienna: A Study Abroad Course.

Abstract

This paper builds upon the work of Dalton and Logan (forthcoming a) by describing the motivation for and mechanics of teaching a course dedicated to Schumpeter as a study abroad program in the city of Vienna. We argue that the qualities Vienna possesses, both historical and contemporary, make a good laboratory for exploring Schumpeter's ideas and that the process of encountering a new culture through a study abroad course is the best way to internalize his theory of innovation. To do so, our paper first outlines the course content before describing the linkages between "techno-romantic" Vienna and Schumpeter's intellectual development. We then describe specific examples for how instructors can use Vienna as a laboratory for teaching Schumpeter's ideas. We close by sharing preparatory details for instructors and offering the perspective of a student who took this course in the summer of 2018.

• Item Type: MPRA Paper
• Language: English
• Keywords: Joseph Schumpeter; Vienna; Innovation; Entrepreneurship; Creative Destruction; Study Abroad; Education
• Subjects: A - General Economics and Teaching > A2 - Economic Education and Teaching of Economics > A20 - General; B - History of Economic Thought, Methodology, and Heterodox Approaches > B3 - History of Economic Thought: Individuals > B30 - 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; O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O33 - Technological Change: Choices and Consequences ; Diffusion Processes; P - Economic Systems > P0 - General > P00 - General

References

Allen, R. L. (1991): Opening Doors: The Life and Work of Joseph Schumpeter, 2 volumes. New Brunswick, NJ: Transaction Publishers.

Dalton, J. T., and L. R. Gaeto (2018): “Schumpeter vs. Keynes Redux: “Still Not Dead”,” working paper.

Dalton, J. T., and A. J. Logan (2020): “A Vision for a Dynamic World: Reading Capitalism, Socialism and Democracy for Today,” The Independent Review, 24(4), 567–577.

Dalton, J. T., and A. J. Logan (forthcoming a): “Teaching and Learning Schumpeter: A Dialogue Between Professor and Student,” Review of Austrian Economics.

Dalton, J. T., and A. J. Logan (forthcoming b): “Using the Movie Joy to Teach Innovation and Entrepreneurship,” Journal of Economic Education.

Diamond, Jr., A. M. (2007): “The Neglect of Creative Destruction in Micro-Principles Texts,” History of Economic Ideas, 26(4), 352–356.

Diamond, Jr., A. M. (2009a): “Schumpeter vs. Keynes: “In the Long Run Not All of Us Are Dead”,” Journal of the History of Economic Thought, 31(4), 531–541.

Diamond, Jr., A. M. (2009b): “Using Video Clips to Teach Creative Destruction,” Journal of Private Enterprise, 25(1).

Gainham, S. (1979): The Hapsburg Twilight: Tales from Vienna. New York, NY: Atheneum.

Gwartney, J. (2012): “What Should We Be Teaching in Basic Economics Courses?,” Journal of Economic Education, 43(3), 300–307.

Hofmann, P. (1988): The Viennese: Splendor, Twilight, and Exile. New York, NY: Doubleday.

März, E. (1991): Joseph Schumpeter: Scholar, Teacher and Politician. New Haven, CT: Yale University Press.

McCannon, B. C. (2011): “Teaching Austrian Economics in Austria as a Non-Austrian: A Note,” Journal of Economics and Finance Education, 10(2), 1–5.

McCraw, T. K. (2007): Prophet of Innovation: Joseph Schumpeter and Creative Destruction. Cambridge, MA: The Belknap Press of Harvard University Press.

Morton, F. (1979): A Nervous Splendor: Vienna 1888/1889. London, UK: Weidenfeld and Nicolson.

Morton, F. (1989): Thunder at Twilight: Vienna 1913/1914. New York, NY: Charles Scribner’s Sons.

Phipps, B. J., R. J. Strom, and W. J. Baumol (2012): “Principles of Economics Without the Prince of Denmark,” Journal of Economic Education, 43(1), 58–71.

Schorske, C. E. (1985): Fin-de-siècle Vienna: Politics and Culture. New York, NY: Alfred A. Knopf.

Schumpeter, J. A. (1934): The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle. Cambridge, MA: Harvard University Press.

Schumpeter, J. A. (1950): Capitalism, Socialism and Democracy. New York, NY: Harper & Row.

Schumpeter, J. A. (1991): The Economics and Sociology of Capitalism. Princeton, NJ: Princeton University Press, edited by Richard Swedberg.

Schumpeter, J. A. (2009): Essays: On Entrepreneurship, Innovations, Business Cycles, and the Evolution of Capitalism. New Brunswick, NJ: Transaction Publishers, edited by Richard V. Clemence.

Stolper, W. F. (1994): Joseph Alois Schumpeter: The Public Life of a Private Man. Princeton, NJ: Princeton University Press.

Strow, C. (2016): “Teaching the Economics of Ecotourism, Trade, Healthcare, Education, Poverty, and Immigration as a Study Abroad experience in Costa Rica,” Journal of Economics and Finance Education, 15(3), 83–94.

Swedberg, R. (1991): Schumpeter: A Biography. Princeton, NJ: Princeton University Press.

Wasserman, J. (2019): The Marginal Revolutionaries: How Austrian Economists Fought the War of Ideas. New Haven, CT: Yale University Press.

Zweig, S. (1943): The World of Yesterday. New York, NY: Viking Press.