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dc.contributor.authorBloch, Harry
dc.contributor.editorGregory C G Moore
dc.identifier.citationBloch, Harry. 2009. Schumpeter's price theory, in Gregory C G Moore (ed), The 22nd conference of the history of economic thought society of Australia, Jul 14 2009.Fremantle, Western Australia: The History of Economic Thought Society of Australia

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.

dc.publisherThe History of Economic Thought Society of Australia
dc.subjecteconomic development
dc.titleSchumpeter's price theory
dc.typeConference Paper
dcterms.source.titleHETSA 2009 abstracts and full papers
dcterms.source.seriesHETSA 2009 abstracts and full papers
dcterms.source.conferenceThe 22nd conference of the history of economic thought society of Australia
dcterms.source.conference-start-dateJul 14 2009
dcterms.source.conferencelocationFremantle, Western Australia
dcterms.source.placeThe University of Notre Dame Australia, Mouat Street, Fremantle
curtin.accessStatusOpen access
curtin.facultyCurtin Business School
curtin.facultySchool of Economics and Finance

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