Schumpeter's contribution to price theory
| dc.contributor.author | Bloch, Harry | |
| dc.date.accessioned | 2017-01-30T13:38:32Z | |
| dc.date.available | 2017-01-30T13:38:32Z | |
| dc.date.created | 2009-08-05T20:02:20Z | |
| dc.date.issued | 2009 | |
| dc.identifier.citation | Bloch, Harry. 2009. Schumpeter's contribution to price theory, Centre for Research in Applied Economics Working Paper Series No. 200907, Curtin University of Technology, School of Economics and Finance. | |
| dc.identifier.uri | http://hdl.handle.net/20.500.11937/33664 | |
| dc.description.abstract |
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 and provides some suggestions for further development of the theory. | |
| dc.publisher | Centre for Research in Applied Economics, Curtin Business School | |
| dc.title | Schumpeter's contribution to price theory | |
| dc.type | Working Paper | |
| dcterms.source.volume | 200907 | |
| dcterms.source.series | Centre for Research in Applied Economics Working Paper Series | |
| curtin.accessStatus | Open access | |
| curtin.faculty | Curtin Business School | |
| curtin.faculty | School of Economics and Finance |