A Teoria do Desenvolvimento do Capitalismo de Joseph Schumpeter
Year: 2025
Type: article
Abstract: The article explores Joseph Schumpeter's theory of capitalist development, contextualizing his life in the Austro-Hungarian Empire (1883-1950) and the transformations of the Second Industrial Revolution. Schumpeter emphasized banking credit and monetary markets as central to capitalism, diverging from the classical view of money as a mere medium of exchange. Influenced by the Austrian School, the German Historical School, and Marx, he integrated historical and theoretical analysis, criticizing static equilibrium models. His theory highlights the entrepreneur as an agent of innovation, responsible for introducing new products, methods, and markets, generating cycles of "creative destruction" that revolutionize the economy. Schumpeter also emphasized the autonomy of the monetary system, where banks create credit money, driving investments and growth. Additionally, he analyzed contradictions within capitalism, such as financial crises, without adopting revolutionary perspectives, advocating for democracy as a space for distributive disputes. The article synthesizes his main works, such as The Theory of Economic Development (1911) and Capitalism, Socialism, and Democracy (1942), underscoring his contribution to understanding the dynamics between innovation, credit, and structural transformation.
Author: Zimbrão Affonso de Paula, Ricardo
Institution: Universidade Federal do Maranhão
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W6968220045
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