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Schumpeter and Goodwin

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  • Hardy Hanappi

Abstract

This paper compares the essential theoretical works of Joseph Schumpeter and Richard Goodwin. Though it also describes some biographical details of their overlapping lifetimes, the main focus is on the relation between their theoretical contributions. It is concluded that their role as theoretical mavericks challenging mainstream economics mirrors the methodological approach of evolutionary economics: progress needs the singular and unconventional challenge of innovators. Their long-lasting influence still is exerted by the scholars they influenced during their last period of activity. As well as showing several similarities the paper also discusses the essential differences between Schumpeter’s and Goodwin’s theoretical positions – in particular with respect to the works of Marx and Keynes. Copyright Springer-Verlag Berlin Heidelberg 2015

Suggested Citation

  • Hardy Hanappi, 2015. "Schumpeter and Goodwin," Journal of Evolutionary Economics, Springer, vol. 25(1), pages 277-291, January.
    • Handle: RePEc:spr:joevec:v:25:y:2015:i:1:p:277-291
    DOI: 10.1007/s00191-014-0390-4
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    References listed on IDEAS

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    1. J. v. Neumann, 1945. "A Model of General Economic Equilibrium," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 13(1), pages 1-9.
    2. Goodwin, Richard M, 1986. "Swinging along the Turnpike with von Neumann and Sraffa," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 10(3), pages 203-210, September.
    3. Hendry, David F, 1980. "Econometrics-Alchemy or Science?," Economica, London School of Economics and Political Science, vol. 47(188), pages 387-406, November.
    4. Hardy Hanappi (ed.), 2013. "Game Theory Relaunched," Books, IntechOpen, number 2750.
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    Cited by:

    1. Hanappi, Hardy & Scholz-Waeckerle, Manuel, 2015. "Evolutionary Political Economy: Content and Methods," MPRA Paper 75447, University Library of Munich, Germany.
    2. Marwil J. Dávila-Fernández, 2020. "Alternative approaches to technological change in a small open economy," Journal of Evolutionary Economics, Springer, vol. 30(2), pages 279-317, April.

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