Schumpeter's price theory
Schumpeter distinguishes between the circular flow of economic activity and economic development. The former is characterised by equilibrium, while the latter involves discontinuous change. The price theory that Schumpeter associates with the circular flow is the well established Walrasian price sys...
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| Format: | Conference Paper |
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The History of Economic Thought Society of Australia
2009
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| Online Access: | http://hdl.handle.net/20.500.11937/5765 |
| _version_ | 1848744887983276032 |
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| author | Bloch, Harry |
| author2 | Gregory C G Moore |
| author_facet | Gregory C G Moore Bloch, Harry |
| author_sort | Bloch, Harry |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | Schumpeter distinguishes between the circular flow of economic activity and economic development. The former is characterised by equilibrium, while the latter involves discontinuous change. The price theory that Schumpeter associates with the circular flow is the well established Walrasian price system. However, the price theory which Schumpeter proposes for economic development is only partially developed in writings and has been largely ignored since. Yet, it is the analysis of economic development that constitutes Schumpeter's enduring contribution to economic thought. This paper provides a critical examination of Schumpeter's price theory as it applies when there is economic development. |
| first_indexed | 2025-11-14T06:08:37Z |
| format | Conference Paper |
| id | curtin-20.500.11937-5765 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T06:08:37Z |
| publishDate | 2009 |
| publisher | The History of Economic Thought Society of Australia |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-57652017-01-30T10:48:25Z Schumpeter's price theory Bloch, Harry Gregory C G Moore Schumpeter economic development prices Schumpeter distinguishes between the circular flow of economic activity and economic development. The former is characterised by equilibrium, while the latter involves discontinuous change. The price theory that Schumpeter associates with the circular flow is the well established Walrasian price system. However, the price theory which Schumpeter proposes for economic development is only partially developed in writings and has been largely ignored since. Yet, it is the analysis of economic development that constitutes Schumpeter's enduring contribution to economic thought. This paper provides a critical examination of Schumpeter's price theory as it applies when there is economic development. 2009 Conference Paper http://hdl.handle.net/20.500.11937/5765 The History of Economic Thought Society of Australia fulltext |
| spellingShingle | Schumpeter economic development prices Bloch, Harry Schumpeter's price theory |
| title | Schumpeter's price theory |
| title_full | Schumpeter's price theory |
| title_fullStr | Schumpeter's price theory |
| title_full_unstemmed | Schumpeter's price theory |
| title_short | Schumpeter's price theory |
| title_sort | schumpeter's price theory |
| topic | Schumpeter economic development prices |
| url | http://hdl.handle.net/20.500.11937/5765 |