Prices in Motion: Schumpeter’s Contribution to 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 that induces business cycles. Schumpeter argues that with development prices are generally in motion. Schumpete...
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| Format: | Working Paper |
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Centre for Research in Applied Economics
2014
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| Online Access: | http://www.business.uwa.edu.au/__data/assets/pdf_file/0012/2330130/Harry-Bloch.pdf http://hdl.handle.net/20.500.11937/7266 |