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  3. Journal of Economic Literature
  4. March 2005
  5. Development

Journal of Economic Literature

ISSN 0022-0515 (Print) | ISSN 2328-8175 (Online)

Development

  • Joseph A. Schumpeter
Journal of Economic Literature
vol. 43, no. 1, March 2005
(pp. 108–120)
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Abstract

The present article introduces Development, a new, unpublished and hitherto unknown article by Joseph A. Schumpeter from 1932. Development is remarkable because it significantly adds to Schumpeter's known works on a number of issues that were central to his theory of economic development. Development shows that Schumpeter considered the explanation of novelty as the most important unsolved scientific problem. Schumpeter doubts the explanatory value of entrepreneurship and indicates that theoretical advances might be forthcoming that can help a better understanding of the social dynamics which gives rise to novelty.

Citation

Schumpeter, Joseph, A. 2005. "Development." Journal of Economic Literature, 43 (1): 108–120. DOI: 10.1257/0022051053737825

JEL Classification

  • B31 History of Economic Thought: Individuals
  • O10 Economic Development: General