Monthly Archives: August 2012

J.A. Schumpeter (desde su biografía – 16)


“Turning from the simplicity and purported certainty of Marx’s economic utopia, Schumpeter poses his own deceptively guileless question and answer: “Can capitalism survive? No. I do not think that it can.”

The argument that follows this memorable beginning to the second part of Capitalism, Socialism and Democracy is complex, closely reasoned, and filled with historical detail....
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J.A. Schumpeter (desde su biografía – 15)


““Capitalist evolution spells disturbance,” Schumpeter emphasizes again and again. “Capitalism is essentially a process of (endogenous) [sic] economic change.” In the absence of change, “capitalist society cannot exist.” If the capitalist engine stalls, the economic system will disintegrate. And the key that starts the engine and keeps it running is innovation: “Without innovations, no entrepreneurs;...
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J.A. Schumpeter (desde su biografía – 14)


“In describing the industrial revolution –and in probing the nature of change, which is the heart of his thesis- Schumpeter draws sharp distinctions between inventors and entrepreneurs, and between inventions and innovations: “The making of the invention and the carrying out of the corresponding innovation are, economically and sociologically, two entirely different things.” Often the...
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J.A. Schumpeter (desde su biografía – 13)


“But the shift did not come easily. A major theme of Business Cycles is the extreme difficulty of changing traditional ways of doing things. More than most analysts, Schumpeter emphasized that the destructive part of creative destruction has always been quite real, and he stressed that those whose interests are being destroyed will fight hard...
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