Schumpeter and the revival of evolutionary economics: an appraisal of the literature

Abstract

During the last two decades we have seen a revival of interest in the works of Joseph Schumpeter and "evolutionary" ideas in economics more generally. A professional society honouring Schumpeter's name has been founded, and linked to it we have had for more than fifteen years now a professional journal devoted to this stream of thought. However, it has been argued that, despite these recent developments, the link between Schumpeter's own work and the more recent contributions to evolntionary economics is in fact rather weak. This paper considers this claim.