Theory Of Economic Development eBook

<p>Schumpeter proclaims in this classical analysis of capitalist society first published in 1911 that economics is a natural self-regulating mechanism when undisturbed by &quot;social and other meddlers.&quot; In his preface he argues that despite weaknesses, theories are based on logic and provide structure for understanding fact.</p><p>Of those who argue against him, Schumpeter asks a fundamental question: &quot;Is it really artificial to keep separate the phenomena incidental to running a firm and the phenomena incidental to creating a new one?&quot; In his answers, Schumpeter offers guidance to Third World politicians no less than First World businesspeople.</p><p>In his substantial new introduction, John E. Elliott discusses the salient ideas of <em>The Theory of Economic Development </em>against the historical background of three great periods of economic thought in the last two decades.</p>