1. Show or hide comments about the document.

  2. Search over the document's text.

  3. Share the document through social networks or e-mail.

  4. After selecting an area on the page.

  5. ...you can:
    copy the text
    share the segment
    comment
    cite the document

Fall 2006
ISSN 0890-913X
Volume 22, Number 1

Schumpeter's Creative Destruction: A Review of the Evidence

Arthur M. Diamond, Jr., University of Nebraska at Omaha
Download Share e-mail
  • << Back to editing
  • Previous version by
  • << Older
  • Newer >>
  • Revert to this one
  • Edit
  • Fullscreen
  • Show comments
  •  
  •  
  •  
  •  
  • Zoom:
     
     
  • Page:  / 27
  •  
  •  
  •  
  • Line spacing:
     
     
  • Word spacing:
     
     
  • Search:FindClose
 
search results
 
 
 
 
 
 
 
 
 
 
 
451
642
1
0
/jpe/index.php?action=ajax&rs=GDMgetPage&rsargs[]=Fall2006 7.pdf&rsargs[]=0
JournalofPrivateEnterprise,VolumeXXII,Number1,Fall2006Schumpeter'sCreativeDestruction:AReviewoftheEvidence*ArthurM.Diamond,Jr.UniversityofNebraskaatOmahaThoughtfulscholarsfromAdamSmithtoJaredDiamond,haveaskedthesamelife-and-deathquestion:whydosomesocietiessucceed,andothersfail,inproducingthegoodsthatmakelifelong,healthyandprosperous?Smith'sanswerwasbasicallythatwhensocietiesadopttherulesofmarketcapitalism,theireconomiesgrow,:andwhentheydonotadopttherulesofmarketcapitnlism,theireconomiesdonot.SinceSmith,othereconomistshavedevelopedmoreformalmodelsofeconomicgrowth.Theclassic"Solowgrowthmodel"emphasizedtheinvestmentofcapital.Romer's"NewGrowthTheory,"includesknowledgeasavariable.Whatismainlymissingfromboththenewandtheoldgrowththeoriesisausefuldiscussionofincentivesandentrepreneurship.Thetheoriesarenotjustacademicabstractions.Policymakers,wantingtoimprovetheworld,sometimesactinpartonthebasisoftheIfirstencounteredSchumpeteratWabashCollegeinawonderfulcourseonCapitalism,SocialismandDemocragtaughtbyBenRogge.TheessenceofRogge'saccountofSchumpeterwaspresentedinthetitleessayofhisCanCapitalismSurvive?(1979)AngelaKuhlmannprovidedresearchassistance.Iamgratefultotworefereesforthoughtfulandusefulcommentsandquestions.Thecurrentpaperisintendedtobeamorefocusedelaborationofasmallpartof"Schumpeter'sCentralMessage,"presentedatthebiennialmeetingsoftheInternationalSchumpeterSocietyinMilan,ItalyonJune12,2004.(Severalsentencesfromthatpaperarereproducedinthispaper.)Anearlierversionofthecurrentpaperwaspresentedtothe2005meetingsoftheAssociationofPrivateEnterpriseEducation.ArthurM.Diamond,Jr.120
GLIFOS-digital_archive