REVIEW OF THE THEORY OF ECONOMIC DEVELOPMENT: SOME SHUMPETRIAN INSIGHTS
In this paper theory of economic development of economic thinker Schumpeter is going to be refined and analyzed. In order to get begin the process of economic development, Schumpeter believes that he need an approach to innovation and changes. According to him, entrepreneurs are the central figure...
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| Format: | Article |
| Language: | English |
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Academica Brâncuşi
2016-12-01
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| Series: | Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie |
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| Online Access: | http://www.utgjiu.ro/revista/ec/pdf/2016-06/14_KRUME%20NIKOLOSKI-REVIEW%20OF%20THE%20THEORY%20OF%20ECONOMIC%20DEVELOPMENT%20SOME%20SHUMPETRIAN%20INSIGHTS.pdf |
| Summary: | In this paper theory of economic development of economic thinker Schumpeter is going to be refined and
analyzed. In order to get begin the process of economic development, Schumpeter believes that he need an approach to
innovation and changes. According to him, entrepreneurs are the central figure in the economic development
dynamics. In terms of scientific thought about innovation, Schumpeter also builds a theory of business cycles in
capitalism, which is known as the innovative theory of cycles. Namely, Schumpeter has a special place in the
development of economic thought. Among economists there is no single view of his work. For example, US economist
Schumpeter Haberler says is closer to Marx than to any others economists, others considered him as a neomarginalist,
third of economist who does not belong to any direction of economic thought. In this paper, hypothesis
related to the main features of Schumpeter’s theory of economic development are as follows: circular flow; innovation
and the role of entrepreneur; business cycles; end of capitalism. |
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| ISSN: | 1844-7007 1844-7007 |