Open AccessJoseph A. Schumpeter and Schumpeterian paradigm on the dynamics of capitalism: Entrepreneur, innovation, growth, and trade
Author(s) -
Turan Yay,
Gülsün Yay
Publication year - 2022
Publication title -
panoeconomicus
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.289
H-Index - 14
eISSN - 2217-2386
pISSN - 1452-595X
DOI - 10.2298/pan200913001y
Subject(s) - economics , neoclassical economics , capitalism , context (archaeology) , creative destruction , evolutionary economics , bridging (networking) , growth model , keynesian economics , political science , paleontology , computer network , politics , computer science , law , biology
Joseph A. Schumpeter suggested two models about the evolution process of capitalist societies. The article aims to specify the essential roles of these models in discussions about the modern firm theories and the development of integrated economic growth and international trade theory. In this context, this article aims to evaluate these developments and point out their role in bridging the gap between microeconomics and macroeconomics. The Schumpeterian framework, as a bridge, provides us a very productive base to discuss the connections among entrepreneurs, firms, innovation, economic growth, and international trade.