Capitalism and Democracy in the 21st Century: Proceedings of the International Joseph A. Schumpeter Society Conference, Vienna 1998 "Capitalism and Socialism in the 21st Century"Springer Science & Business Media, 2001 - 378 pages Joseph Schumpeter oscillated in his view about the type of economic system that was most conducive to growth. In his 1911 treatise, Schumpeter argued that a more decentralized and turbulent industry structure where the pro cess of creative destruction was triggered by vigorous entrepreneurial ac tivity was the engine of economic growth. But by 1942 Schumpeter had modified his theory, arguing instead that a more centralized and stable industry structure was more conducive to growth. According to Schum peter (1942, p. 132), under the managed economy there was little room for entrepreneurship because, "Innovation itself is being reduced to routine. Technological progress is increasingly becoming the business of teams of trained specialists who turn out what is required to make it work in pre dictable ways" (p. 132). Schumpeter (1942) reversed his earlier view by arguing that the integration of knowledge creation and appropriation be stowed an inherent innovative advantage upon giant corporations, "Since capitalist enterprise, by its very achievements, tends to automize progress, we conclude that it tends to make itself superfluous - to break to pieces under the pressure of its own success. |
Contents
Editorial | 1 |
Are they compatible in the longrun? | 9 |
from the managed to the entrepreneurial economy | 23 |
a Kaleckian interpretation of a Schumpeterian problem | 41 |
the civilizational dimension | 55 |
Capitalism democracy and rational individual behavior | 73 |
A spectre is haunting the world the spectre of global capitalism | 89 |
Reflections on the perspectives of the global economy from the point of view of emerging economies | 115 |
The determinants of pharmaceutical research and development expenditures | 207 |
Industrial policy competence blocs and the role of science in economic development | 223 |
Multimarket contact and interfirm cooperation in RD | 249 |
Political entrepreneurship and bidding for political monopoly | 279 |
Market institutions and economic evolution | 303 |
Competitive selection selforganisation and Joseph A Schumpeter | 317 |
An essay Hirschman has yet to write | 335 |
Schumpeter and Steindl on the dynamics of competition | 349 |
Capitalism profits and innovation in the new technoeconomic paradigm | 137 |
a vector autoregression analysis | 165 |
Uncertainty and the size distribution of rewards from innovation | 181 |
integrating theory and history in the analysis of economic development | 361 |
Other editions - View all
Capitalism and Democracy in the 21st Century: Proceedings of the ... Dennis C. Mueller,Uwe Cantner No preview available - 2010 |
Capitalism and Democracy in the 21st Century Dennis C. Mueller,Uwe Cantner No preview available - 2014 |
Common terms and phrases
activity Amoco analysis approach argued Audretsch barriers behavior business cycle Cambridge capitalism capitalist chemical companies comparative advantage competence bloc competition corporate costs countries creative destruction debt ratio democratic distribution drug dynamics economic development economic evolution economic growth economists effects Eliasson G employment Endog endogenous entrepreneurs entrepreneurship entry equilibrium equipment evolutionary economics exchange-rate Exog factors firms German German Historical School global Hirschman Historical School ideas important income increase individual industry innovation institutions investment Joseph Schumpeter Journal Kalecki Kaleckian macroeconomic market power mechanism monetary NCRA NCRA RJVs nomic OECD organization paper participants patents percent pharmaceutical political potential problem profits property rights Public quasi-rent result right-hand tail role Schmoller Schumpeter Society Schumpeter's Schumpeterian sector selection self-organisation share Skew structure Table taxation theory tion trade University Press variables voters wage share wages