Schumpeter and Steindl on growth and the transformation to maturity in capitalism.
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Open access
Authors
Bloch, Harry
Finch, J.
Date
2007Type
Working Paper
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Bloch, Harry and Finch, John (2007) Schumpeter and Steindl on growth and the transformation to maturity in capitalism., Working Paper Series: no. 2007-6, Curtin University of Technology, Centre for Research in Applied Economics.
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Faculty
Curtin Business School
School of Economics and Finance
School
Centre for Research in Applied Economics
Collection
Abstract
Joseph Schumpeter and Josef Steindl provide distinctive contributions to the analysis of growth and development under capitalism. They each analyse the evolution of competition and use this analysis to determine the growth prospects of mature capitalism. Both reach pessimistic conclusions, although for different reasons. This paper critically examines the analysis of each author and makes suggestions for building on their work to provide a richer theory of economic growth and transformation, which can be used to assess current and future growth prospects for advanced capitalist economies.
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