… the capitalist engine is first and last an engine of mass production which unavoidably means also production for the masses, whereas, climbing upward in… Read More »Schumpeter on who gains from mass production
Here’s Joseph Schumpeter laying out some key features of the importance of (capitalist?) economic growth in 1942. [This Lant Pritchett on broad based economic growth… Read More »Joseph Schumpeter on qualitative gains from capitalist growth
Joseph Schumpeter’s Capitalism, Socialism and Democracy is (apparently) “the third most cited book in the social sciences published before 1950, behind Marx’s Capital and The… Read More »Schumpeter on primitive accumulation and Marx’s guffaw