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Strathprints serves world leading Open Access research by the University of Strathclyde, including research by the Strathclyde Institute of Pharmacy and Biomedical Sciences (SIPBS), where research centres such as the Industrial Biotechnology Innovation Centre (IBioIC), the Cancer Research UK Formulation Unit, SeaBioTech and the Centre for Biophotonics are based.

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Schumpeter and Steindl on growth and the transformation to maturity in capitalism

Bloch, H. and Finch, J.H. (2008) Schumpeter and Steindl on growth and the transformation to maturity in capitalism. History of Economics Review, 47. pp. 1-19. ISSN 1037-0196

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Abstract

Joseph Schumpeter and Josef Steindl provide distinctive contributions to the analysis of growth and development under capitalism. They each analyse the evolution of competition and use this analysis to determine the growth prospects of mature capitalism. Both reach pessimistic conclusions, although for different reasons. This paper critically examines the analysis of each author and makes suggestions for building on their work to provide a richer theory of economic growth and transformation within advanced capitalist economies.