The Theory of Economic Development

Schumpeter, J. A. (1912/1934). The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle. Harvard University Press.

Type

Book

Intellectual base

Review or monograph

Year

1934 this edition · first published 1912

Link

https://www.google.com/books/edition/The_Theory_of_Economic_Development/-OZwWcOGeOwC not authoritative

Cited from

economics_finance, synthesized

Cited by

2 citations across 2 artifacts.

Each citation links to the sentence it supports in the citing article.

Primes

• Arbitrage (Generalized)
  • As Schumpeter (1934) argues in his theory of economic development, entrepreneurial value creation is fundamentally an act of recombination and reframing—taking existing materials, technologies, or labor and presenting them in a new "neue Kombination" that the market values differently.

    This sourceArticulates entrepreneur as innovator through "new combinations" of capital and labor; five types of innovation (new products, new production methods, new markets, new supply sources, new organizational forms); sets foundation for creative destruction analysis.

• Creative Destruction
  • Schumpeter's earlier Theory of Economic Development (1934)

    This sourceLocates innovation in the entrepreneur's "new combinations" (new products, methods, markets, supply sources, organizational forms); supports the entrepreneur-as-innovator-preceding-formal-models claim.

Verification

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