Joseph Schumpeter by https://padlet.com/ian_walker/JosephSchumpeterIanZachJin Keynesian Macroeconomics en-us 2017-01-18 01:51:57 UTC 2025-10-22 22:23:14 UTC hello@padlet.com https://padletuploads.blob.core.windows.net/prod/162294151/b1e056858538a133e0a0384a508170cf/schumpeter.jpg Joseph Schumpeter ian_walker https://padlet.com/ian_walker/JosephSchumpeterIanZachJin/wish/147715333 Age 42 (1925)]]> 2017-01-18 01:55:36 UTC https://padlet.com/ian_walker/JosephSchumpeterIanZachJin/wish/147715333 History of Economic Analysis zach_bailey https://padlet.com/ian_walker/JosephSchumpeterIanZachJin/wish/147715572 A major contribution to the history of ideas as well as to economics, History of Economic Analysis by Joseph Schumpeter provided a complete history of economic theory from Ancient Greece to the end of the second world war. Topics addressed include the techniques of economic analysis, contemporaneous developments in other sciences and the sociology of economics. As well as dealing with all of the major economists from Adam Smith to Maynard Keynes, the book considers the economic writings of Plato and Aristotle, of the Medieval Scholastics and of the major European economists. Throughout, Schumpeter perceived economics as a human science and this is reflected in a volume which is lucid and insightful throughout.]]> 2017-01-18 01:59:11 UTC https://padlet.com/ian_walker/JosephSchumpeterIanZachJin/wish/147715572 The Business Cycle zach_bailey https://padlet.com/ian_walker/JosephSchumpeterIanZachJin/wish/147715685 Schumpeter discusses the nature of the circular flow which, excluding any innovations and innovative activities, leads to a stationary state.

The entrepreneur disturbs this equilibrium and is the prime cause of economic development, which proceeds in cyclic fashion along several time scales.

Schumpeter suggested a model in which the four main cycles, Kondratiev (54 years), Kuznets (18 years), Juglar (9 years) and Kitchin(about 4 years) can be added together to form a composite waveform. A Kondratiev wave could consist of three lower degree Kuznets waves. Each Kuznets wave could, itself, be made up of two Juglar waves. Similarly two (or three) Kitchin waves could form a higher degree Juglar wave. 

If each of these were in phase, more importantly if the downward arc of each was simultaneous so that the nadir of each was coincident it would explain disastrous slumps and consequent depressions. As far as the segmentation of the Kondratiev Wave, Schumpeter never proposed such a fixed model. He saw these cycles varying in time – although in a tight time frame by coincidence – and for each to serve a specific purpose.
]]> 2017-01-18 02:00:46 UTC https://padlet.com/ian_walker/JosephSchumpeterIanZachJin/wish/147715685 The Business Cycle zach_bailey https://padlet.com/ian_walker/JosephSchumpeterIanZachJin/wish/147715823 2017-01-18 02:02:30 UTC https://padlet.com/ian_walker/JosephSchumpeterIanZachJin/wish/147715823