Open Conference Systems, Schumpeter 2010

Font Size:  Small  Medium  Large

What Drives Processes of Creative Destruction ? Schumpeter's Socioeconomic Methodology and the Motivational Side of Actors as Agents of Economic Change

Dieter Bögenhold

Last modified: 2010-06-03

Abstract


Joseph A. Schumpeter (JAS, 1883-1950) is regarded as one of the most prominent economists of the 20th century. He is well known as theorist of innovation, entrepreneurship and dynamics of capitalism. JAS's view of an evolutionary economy is often summarized as never-ending process of “creative destruction”. Less known is the diversity of JAS's writings and his truly interdisciplinary scientific approach referring to lessons of history, sociology, psychology and further disciplines and he can be regarded as pioneer of a research tradition which is commonly called socioeconomics. The paper discusses two topics of JAS's writings, (i.) the behavioural assumptions for entrepreneurial activity, and (ii.) Schumpeter's methodological concerns doinf economic research. Especially in the “Theory of Economic Development” (1911) JAS develops a typology of entrepreneurial motivation which is based on ideas of human motivation and psychological concerns. Since entrepreneurs activity is centrally for JAS's ideas of innovation, the motivation of these economic activities falls into domains which are of noneconomical nature. The (ii.) topic of discussion is JAS's methodology which is developed in his “History of Economic Analysis” (1954). JAS elaborates a scheme of interdisciplinary division by arguing in favour of institutional and multidisciplinary work which is commonly called socioeconomics.

Full Text: PDF