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'New combinations' in the economy and in economics: a tribute to Stanley Metcalfe

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  • Heinz D. Kurz

Abstract

Scientific analysis is not merely a logically consistent process that starts with some primitive notions and then adds to the stock in a straight-line-fashion. It is not simply progressive discovery of an objective reality. (Schumpeter 1954, 4) The paper discusses an important case of the production of economic ideas by means of economic ideas: Stan Metcalfe's view of the restlessness of capitalism was shaped by ideas he had encountered in Schumpeter, and Schumpeter's view was influenced by ideas he had encountered in Marx. The three authors' aim can be said to consist in an elaboration of a histoire raisonnée (Schumpeter) of capitalism, in which the development of technology and science and its translation into economic analytical terms occupies centre stage.

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  • Heinz D. Kurz, 2013. "'New combinations' in the economy and in economics: a tribute to Stanley Metcalfe," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 22(7), pages 653-665, October.
    • Handle: RePEc:taf:ecinnt:v:22:y:2013:i:7:p:653-665
    DOI: 10.1080/10438599.2013.795781
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    1. Babbage, Charles, 1832. "Economy of Machinery and Manufactures," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number babbage1832.
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    Cited by:

    1. Michael Peneder & Andreas Resch, 2015. "Schumpeter and venture finance: radical theorist, broke investor, and enigmatic teacher," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 24(6), pages 1315-1352.

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