Richard Swedberg and Thorbjorn Knudsen use Schumpeter's ideas about combination and resistance to entrepreneurship as the basis of a new theory of entrepreneurship. Their ideas are presented in more detail in an earlier article here, in the journal Capitalism and Society. They suggest in the post that this theory of entrepreneurship can be developed into a business cycle theory, but they don't give much detail on how. I assume it's tied to the creative destruction associated with market innovation. For a policy-oriented Schumpterian perspective, see the Information Technology and Innovation Foundation, headed up by Rob Atkinson. I've been to a few of their events - it's a neat group. The group has one of those internet quizzes to figure out what kind of economist you are. The options are "supply-side economics, liberal neo-classical economics, Keynesian economics or innovation economics". I was "innovation economics" - the one they associate with Schumpeter. I imagine I fell out that way because what they call "Keynesian" was basically a mix of welfare-state liberalism and vulgar Keynesianism.
Wednesday, June 23, 2010
Thoughts on Schumpeter
Richard Swedberg and Thorbjorn Knudsen use Schumpeter's ideas about combination and resistance to entrepreneurship as the basis of a new theory of entrepreneurship. Their ideas are presented in more detail in an earlier article here, in the journal Capitalism and Society. They suggest in the post that this theory of entrepreneurship can be developed into a business cycle theory, but they don't give much detail on how. I assume it's tied to the creative destruction associated with market innovation. For a policy-oriented Schumpterian perspective, see the Information Technology and Innovation Foundation, headed up by Rob Atkinson. I've been to a few of their events - it's a neat group. The group has one of those internet quizzes to figure out what kind of economist you are. The options are "supply-side economics, liberal neo-classical economics, Keynesian economics or innovation economics". I was "innovation economics" - the one they associate with Schumpeter. I imagine I fell out that way because what they call "Keynesian" was basically a mix of welfare-state liberalism and vulgar Keynesianism.
Isn't all Keynesianism vulgar? ;)
ReplyDeleteAlso, why not a picture of Schumpeter in his youth?
because i only ever see headshots of him and i like this one because it was in front of the building
ReplyDeletei really liked the one of einstein in front of the microphone too... and you can see my recent standing profile of adam smith.
ReplyDeleteif i can help it, i try not to use the stock pictures that everyone has seen before.
Have you gone all lower case on us like 3/4s of the internets?
ReplyDeleteNO I HAVE NOT... BUT I'M EXPERIMENTING WITH ALL CAPS
ReplyDelete