The Theory of Economic Development

The Theory of Economic Development remains a vital, magisterial account of economics and the nature of capitalism whose many insights remain highly relevant today. This Routledge Classics edition includes a new Introduction by Richard Swedberg.

Joseph A. Schumpeter (1883-1950). Originally born in Moravia in the present-day Czech Republic, Schumpeter was a renowned economist, business theorist and political scientist, famous for coining the term 'creative destruction'. He was for many years Professor of Economics at Harvard University and numbered among his pupils Robert Solow, the Nobel Laureate, and former chairman of the Federal Reserve Alan Greenspan. He is the author of Capitalism, Socialism and Democracy, also published in Routledge Classics.

Introduction to the Routledge Classics Edition Richard Swedberg 1. The Circular Flow of Economic Life as Conditioned by Given Circumstances 2. The Fundamental Phenomenon of Economic Development 3. Credit and Capital 4. Entrepreneurial Profit 5. Interest on Capital 6. The Business Cycle. Index