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dc.contributor.authorBloch, Harry
dc.date.accessioned2017-01-30T11:11:38Z
dc.date.available2017-01-30T11:11:38Z
dc.date.created2016-10-05T19:30:21Z
dc.date.issued2016
dc.identifier.citationBloch, H. 2016. Prices in Motion: Towards a Schumpeterian Price Theory. Metroeconomica: international review of economics. 67 (4): pp. 742-767.
dc.identifier.urihttp://hdl.handle.net/20.500.11937/9266
dc.identifier.doi10.1111/meca.12119
dc.description.abstract

To Schumpeter, endogenous development is an essential characteristic of capitalism that disrupts the equilibrium of the circular flow of the economy. Price equilibrium in the circular flow is displaced by an analysis of prices in motion. The diversion of productive inputs from their existing employment through competition from entrepreneurs and the process of creative destruction both impact on prices throughout the economy and generate business cycles. While Schumpeter's theory of the business cycle and, implicitly, his price theory, have been heavily criticized, this article suggests a way forward to a revised theory of prices in motion.

dc.titlePrices in Motion: Towards a Schumpeterian Price Theory
dc.typeJournal Article
dcterms.source.volume67
dcterms.source.number4
dcterms.source.startPage742
dcterms.source.endPage767
dcterms.source.issn1467-999X
dcterms.source.titleMetroeconomica: international review of economics
curtin.note

null

curtin.departmentSchool of Economics and Finance
curtin.accessStatusOpen access


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