Emil Lederer and Joseph Schumpeter on Economic Growth, Technology and Business Cycles

Abstract

Lederer, Schumpeter, Economic growth, Technology, Business cycles,

Sumner Slichter and Emil Lederer on technological unemployment

“…Lederer's analysis with regard to the introduction of “inventions” in the production process is apparently very Schumpeterian (Michaelides et al , 2009, 2010) and its roots could even be traced – indirectly – to the German Historical School, via Schumpeter's influence (Michaelides and Milios, 2009). Moreover, according to Diebolt (2006), the deeper roots of several of Lederer's views could be traced back to Malthus (1836) and Sismondi (1827).…”

“…Joseph Alois Schumpeter, “one of the greatest economists of all time” (Haberler, 1950, p. 1), once described the great Austrian theoretician Emil Lederer as “the leading academic socialist of Germany in the 1920s” (Schumpeter, 1954, p. 884). However, with the exception of very few papers (Allgoewer, 2003; Dickler, 1981, 1983, 1987; Diebolt, 2006; Esslinger, 1997, 1999; Hagemann, 1997, 2000; Michaelides et al , 2010a, b) no adequate research seems to have been done on Emil Lederer's works and, as a result, most aspects of Emil Lederer's works and his affinities with other great economists remain unexplored.…”

Emil Lederer’s Theory of Economic Fluctuations and the Role of Financial Institutions

“…In his writings he comes off as a fascinating, if idiosyncratic, thinker" (Allgoewer 2003, p. 328). 4 However, Lederer's contribution remains unexplored as very few papers have been devoted to his work (Allgoewer 2003, Diebolt 2006Michaelides et al 2007;Michaelides et al 2008a;Michaelides et al 2008b). This paper focuses on Emil Lederer's theory of economic fluctuations.…”

Heterodox influences on Schumpeter

“…In this study, we claim that the flamboyant economist's views were strongly influenced by the GHS, Rudolf Hilferding and Emil Lederer. In this spirit, much of this paper is dependent on previous relevant works by the authors, such as Michaelides and Milios (2009, 2005) and Michaelides et al (2009), respectively, although a considerable amount relies on other significant contributions in the literature (Haberler, 1950; MacDonald, 1965; Swedberg, 1989; Andersen, 1991; Streissler, 1994; Chaloupek, 1995; Diebolt, 1997, 2006; Shionoya, 1997, 2005; Ebner, 2000; Hodgson, 2001, 2003; Allgoewer, 2003; Becker and Knudsen, 2002).…”