This timely book presents a detailed critical reassessment of Schumpeter's analysis of capitalist motion identifying those aspects that remain relevant to an understanding of modern capitalism. It recognizes Schumpeter's very real achievement in giving prominence to entrepreneurial behaviour and the process of innovation as the mainspring of capitalist motion. But, it challenges the methodological and substantive dimensions of his analysis of economic systems. Schumpeter's failure to situate his thesis in an appropriate `vision' of capitalism led him into an isolated, narrow and harmonistic perception of `economic motion' divorced from the socio-political context of capitalism.
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Allen Oakley, former Associate Professor of Economics, The University of Newcastle, AustraliaReview:
`All students of the more technical side of Schumpeterian Economics should study this scholarly presentation and well-balanced assessment of Schumpeter's contributions to the economic analysis of Capitalism.' -- Journal of the History of Economic Thought `. . . for all students of Schumpeter, Oakley's book is a must.' -- A. Heertje, Journal of Evolutionary Economics `This book makes a significant contribution to Schumpeter scholarship. In addition, it will appeal to scholars working in the classical-Marxian tradition. It will also serve as a standard reference for those concerned with the "dynamics of capitalism" in general, and with the relations between capitalism and business cycles in particular.' -- Dr Stephan Boehm, University of Graz, Austria `This book represents a valuable addition to the literature on Schumpeter.' -- Paul Killebrew, International School of Economics, Rotterdam, The Netherlands `. . . a valuable contribution to the discussion of the methodology of classical economics and contains a number of interesting insights.' -- -Oskar Kurer, History of Economics Review
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