Convergences with Schumpeter

an essay Hirschman has yet to write

Peter Wynarczyk

pp. 335-347

in: Dennis C. Mueller, UWE Cantner (eds), Capitalism and democracy in the 21st century, Heidelberg, Physica, 2001

Abstract

The paper explores the contributions of Joseph Schumpeter and Albert Hirschman to our understanding of the dynamics of modern democratic capitalist economies and suggests that much of their respective work displays intellectual overlap and complementarity. It is primarily focused upon the role of economic and political processes as forces of change and adjustment and the necessary degree of built-in inertia required to permit orderly rather than chaotic responses.

Cited authors

Schumpeter Joseph

Hirschman Albert