Richard Arena
The institutional and social dynamics of growth and distribution: the case of Joseph Schumpeter

Abstract: In the field of the theory of growth and technical change the contribution of Joseph Schumpeter is certainly crucial. Our paper will investigate different but apparently unconnected issues concerning Schumpeter contribution. Its purpose is also to show why and how it is possible to integrate these developments into a unique conception of Schumpeterian dynamics based on the idea that Schumpeter's conception of growth and income distribution combines two features. On the one hand, it is founded on an institutionalist rather than an evolutionary conception of dynamics, implying integration between technological, social and economic aspects of change. For instance, we will argue that Schumpeter's theory of innovation cannot be understood as a pure selection theory based on a competitive market process, but has to be related to social and institutional change. On the other hand, we will argue that Schumpeter's approach combines history, economic sociology and economic theory, and that without the use of all these ingredients it is hopeless to explain the relations between growth and income distribution in Schumpeter's analysis.

JEL: B23.
Keywords: schumpeter, distribution, growth, social dynamics.



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