TY - BOOK AU - Schumpeter,Joseph A. AU - Opie,Redvers AU - Elliott,John E. TI - The theory of economic development : : an inquiry into profits, capital, credit, interest, and the business cycle / T2 - Social science classics series SN - 0878556982 AV - HB 175 S462.1997 PY - 1997///, 1983] CY - New Brunswick, New Jersey : PB - Transaction Publishers KW - Economics KW - Economía KW - Economic development KW - Desarrollo económico KW - Capitalism KW - Capitalismo N1 - "Original material copyright ©1934 by the President and Fellows of Harvard College"--; Traducción de: Theorie der wirtschaftlichen Entwicklung; Incluye referencias bibliográficas; Translator's note --; Introduction to the transaction edition --; Preface to the English edition --; Circular flow of economic life as conditioned by given circumstances --; Fundamental phenomenon of economic development --; Credit and capital --; Entrepreneurial profit --; Interest on capital --; Business cycle N2 - Overview: Schumpeter proclaims in this classical analysis of capitalist society first published in 1911 that economics is a natural self-regulating mechanism when undisturbed by "social and other meddlers." In his preface he argues that despite weaknesses, theories are based on logic and provide structure for understanding fact. Of those who argue against him, Schumpeter asks a fundamental question: "Is it really artificial to keep separate the phenomena incidental to running a firm and the phenomena incidental to creating a new one?" In his answers, Schumpeter offers guidance to Third World politicians no less than First World businesspeople. In his substantial new introduction, John E. Elliott discusses the salient ideas of The Theory of Economic Development against the historical background of three great periods of economic thought in the last two decades ER -