02331    a2200217   4500999001700000020001800017041000900035082001500044100003500059245006300094250002700157260002700184300001500211504001900226520167600245546001301921650002601934650001601960942001201976952012501988  c38362d38362  a9781032507187  aeng-  a330bSCH-T  aSchumpeter, A. Josepheauthor.  aThe Theory of Economic Development /cLoseph A. Schumpeter  aSpecial Indian Edition  aUK :bRotledge,c2023.  axix, 234p.  aInclude index.  aJoseph Schumpeter (1883–1950) is one of the most fascinating and influential economists of the twentieth century, renowned for his brilliant and unorthodox insights into the nature of capitalism. His students include leading economists such as Paul Samuelson, Robert Solow and the former chairman of the Federal Reserve, Alan Greenspan.

The Theory of Economic Development is one of Schumpeter's most important books and the one that made him famous. He poses a fundamental question: why does economic development proceed cyclically rather than evenly? Turning prevailing economic theory, which approached economics as equilibrium, on its head, Schumpeter argues it is because economics is constantly transformed by its own internal forces. These forces are the 'circular flow' of economic life; economic development, characterised by disruption and innovation; and finally, the levers that push and pull capitalism including credit, profit and interest. These are all manifested in the ‘business cycle’, one of Schumpeter's major contributions to understanding economics and now a perennial feature of virtually all economics and business curricula. He is also the first economist to place the entrepreneur at the heart of capitalism, anticipating subsequent fascination with entrepreneurship in popular business and management writing. Schumpeter also lays the groundwork for his subsequent, highly influential idea of the 'creative destruction' characteristic of radical and rapid economic change.

The Theory of Economic Development remains a vital, magisterial account of economics and the nature of capitalism whose many insights remain highly relevant today.  aEnglish.  aEconomic development.  aCapitalism.  2ddccBK  00104070aNASSDOCbNASSDOCd2023-03-16eOverseasg0.00l0o330 SCH-Tp52905r2023-05-22 00:00:00v0.00w2023-05-22yBK