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Profit of Innvation? Schumpeter and Classical Sociology

Ray, Larry J. (2009) Profit of Innvation? Schumpeter and Classical Sociology. Journal of Classical Sociology, 9 (3). pp. 347-352. ISSN 1468-795X. (doi:10.1177/1468795X09105448) (The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided) (KAR id:22070)

The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided.
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The Austrian theorist Joseph Schumpeter (1883–1950) is not generally included

in discussions of classical sociology, although he was part of the political generation

that included Max Weber, Georg Simmel, Gustav von Schmoller and the German

Historical School. An economic theorist whose project was to synthesize insights

from sociology, social psychology, and cultural and historical studies of economics,

he has perhaps not been centrally established within any disciplinary boundary.

His best-known work, Capitalism, Socialism and Democracy (1942), has been

read more in political science and sociology than economics, and for a long time

his work was eclipsed by his contemporary and rival, John Maynard Keynes.

However, Schumpeter’s works, and especially his concept of ‘creative destruction’,

are currently receiving enthusiastic interest in business schools, which is illustrated

by Thomas McCraw’s major intellectual biography (Professor of Business History

in the Harvard Business School). McCraw’s volume is scholarly, thorough and

systematically grounded in a comprehensive range of Schumpeter’s published

works, personal papers and diaries as well as the recollections of both colleagues and

intimate friends. This was possible in part because, after his death, Schumpeter’s

widow and co-researcher, Elizabeth Boody, donated to Harvard his personal

papers unexpurgated (p. 494). McCraw’s study is bursting with documentation,

anecdotes and elaboration, and there is no sign here of the alleged decline and

fall of annotation – of the 700 odd pages, around 200 are endnotes, which will probably please some and annoy others, although the endnote material is often

essential reading.

Item Type: Article
DOI/Identification number: 10.1177/1468795X09105448
Additional information: Review Essay: The book reviewed is McCraw, Thomas K: Prophet of Innovation: Joseph Schumpeter and Creative Destruction
Uncontrolled keywords: Schumpeter, classical sociology, creative destruction
Subjects: H Social Sciences > HM Sociology
Divisions: Divisions > Division for the Study of Law, Society and Social Justice > School of Social Policy, Sociology and Social Research
Depositing User: Laurence Ray
Date Deposited: 27 Nov 2009 15:24 UTC
Last Modified: 16 Nov 2021 10:00 UTC
Resource URI: (The current URI for this page, for reference purposes)

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