More than half a century after his death, Schumpeter still remains a source of scientific debate on major economic and social issues and methodology, and on empirical research on economic dynamics and technical change. Keynes put his mark on economic theory and economic policy during the last century, but at present he seems to be in the shadow of Schumpeter. The reason may be that Schumpeter laid more emphasis on the long-run development of capitalism. The offspring of endogenous growth theories can be seen as the follow-up to Schumpeter's pathbreaking descriptive and innovative thinking.
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