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The Integration of Theory and History

Methodology and Ideology in Schumpeter’s Economics
  • William Lazonick
Part of the Recent Economic Thought book series (RETH, volume 36)

Abstract

If one accepts Joseph A. Schumpeter’s argument that innovation is the “fundamental phenomenon of economic development,” then to under-stand the process of economic development requires that we study how and under what conditions innovation occurs. If one also accepts that an understanding of the process of economic development is of central concern to economics as a social science, then economists should possess the capability to study innovation (for an extended argument on which this essay draws, see Lazonick, 1991a).

Keywords

Economic Development Business Cycle Innovation Process Evolutionary Approach Economic History 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Kluwer Academic Publishers 1994

Authors and Affiliations

  • William Lazonick
    • 1
  1. 1.CambridgeUSA

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