Banking and the Financing of Development: A Schumpeterian and Minskyian perspective

Por • 30 sep, 2011 • Sección: Economía

Kregel, Jan and Burlamaqui, Leonardo

Schumpeterian creation and destruction occurs in finance as well as in products and processes. The essential point of Schumpeter’s view of money and banks is that new combinations in production and in products could not appear without being financed: finance and development are in a symbiotic relation. Restricting the Schumpeterian vision to technology or even industrial organization misses the integrated character of Schumpeter’s vision. (Hyman Minsky, 1990)


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