Emil Lederer and the Schumpeter, Hilferding, Tugan-Baranowsky Nexus
Por Camilo Arcaya • 29 abr, 2017 • Category: EconomíaThis essay argues that Emil Lederer formulated his research agenda and his main theses in close theoretical contact with the conceptual framework of other schools of thought, as represented by major scholars such as Joseph Schumpeter, Rudolf Hilferding and Mikhail Ivanovich Tugan-Baranowsky. The impact of technological progress on the economic system is a central theme in Lederer’s work, whereas its linkage to the market structure and more specifically to the emergence of monopolies is also shared by Hilferding. Moreover, Lederer argued that business cycles constitute an endogenous characteristic of capitalism and should not only be attributed to external shocks which disrupt an otherwise harmonious economic environment. In his major work Technical Progress and Unemployment (1938), Lederer argued that business cycles could arise from the disruptions created by innovations which are introduced discontinuously into the economic system, a thesis that is traditionally known to be of Schumpeterian inspiration. Hilferding and Tugan–Baranowsky delivered theories of economic fluctuations focusing on the role of disproportional growth between production sectors.