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Joseph Schumpeter

Joseph Schumpeter. Imperialism: A Product of Atavism. Intellectual Environment of Schumpeter. Marginalist Revolution (1871-74)and Austrian School of Economists Eugen von Böhm-Bawerk and Friedrich von Wieser Leon Walrus and Equilibrium Theory Austro Marxian School.

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Joseph Schumpeter

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  1. Joseph Schumpeter Imperialism: A Product of Atavism

  2. Intellectual Environment of Schumpeter • Marginalist Revolution (1871-74)and Austrian School of Economists • Eugen von Böhm-Bawerk and Friedrich von Wieser • Leon Walrus and Equilibrium Theory • Austro Marxian School

  3. Elite theories of Social Organization • Vilfredo Pareto (15 July, 1848, -August 19, 1923 ) • Trattato di sociologia generale (1916) • Robert Michels ( 9, Jan. 1876, Cologne,- 3 May, 1936 ) • Political Parties: A Sociological Study of the Oligarchical Tendencies of Modern Democracy • Gaetano Mosca ( 1 April 1858-8 November 1941) • The Ruling Class (1896)

  4. Schumpeter A Defender of Rational Capitalism • A Lawyer turned Professor at Czernowitz • Theory of economic Development (1911) • Founder of the Theory of Entrepreneurship • Theory of The Theory of Economic Development: An inquiry into profits, capital, credit, interest and the business cycle , 1911. • Economic Doctrine and Method: An historical sketch, 1914.

  5. Schumpeter as a Politician and an Academic • German Socialization Committee • Kiel School of Economists and German Marxists Such Kautsky and Hilferding • Brief Tenure as Austrian Minister of Finance in 1919 • President of Bank and Professorship at Bonn • Harvard University in 1932 • Mentor of Paul Samuelson

  6. Veblen and German State • Influence of Thorstein Veblen • Imperial Germany and the Industrial Revolution (1915) • Comparison between Germany Britain • The Idea of dynastic State • End of Dynastic State

  7. Schumpeter’s Idea of Imperialism • Influence of Economic Interpretation of History • Proving Marxists Wrong. • Imperialism is the object-less disposition of a state to expansion by force without assigned limits. • Imperialism benefits a small clique.

  8. Main Features of Schumpeter’s Thesis • Historical force of non-rational and irrational, purely instinctive inclinations to war and conquest • Consolidation of Class of Warriors • Internal Relationships and dominant positions of such a group in political and economic structure • Imperialism is an atavism

  9. Capitalism as an anti imperialist political economic system • Imperialism a Legacy of Monarchical State • Capitalism as a rational economic system opposed to direct imperial conquest • Dismantling of the special Interest Groups • Pacific Capitalism

  10. Weaknesses of Schumpeter’s Thesis • Too Deeply Embedded in Continental Context • Failure to see new world wide context of Empire • Foreign Trade led to Empire • The Idea of Informal Economic Hegemony • Predictions of Modern International Order

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