Explains Joseph Schumpeter's economic theories and the neo-classical view of economics and then contrasts the two theories.
Written in 2002; 3,400 words; 4 sources; $ 124.95
Paper Summary:
Schumpeter's economic theories as they are outlined in "Capitalism, Democracy and Socialism" differ significantly from the neo-classical view of economics. The neo-classical view is outlined-with reference to Adam Smith as a representative neo-classical economist--and contrasted with Schumpeter's theories. Schumpeter's absorption of Marxism, his views on markets and monopolies, and his ruminations on the future of capitalism are highlighted and contrasted with the neo-classical paradigm.
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