TAILIEUCHUNG - History of Economic Analysis part 91

History of Economic Analysis part 91. At the time of his death in 1950, Joseph Schumpeter-one of the major figures in economics during the first half of the 20th century-was working on his monumental History of Economic Analysis. A complete history of humankind's theoretical efforts to understand economic phenomena from ancient Greece to the present, this book is an important contribution to the history of ideas as well as to economics. | History of economic analysis 862 which in this field meets with particular difficulties did not get beyond beginnings. The record of successful research practically begins in the 1920 s especially in the United States where scarcity of material was an almost prohibitive obstacle There is one more point however that cannot be left untouched. All the theories of entrepreneurial activity and of entrepreneurial gains that have been mentioned are functional. That is to say they all started by attributing to entrepreneurs an essential function in the productive process and they all went on to explain entrepreneurial gains by success in filling that function. No doubt different authors defined this function in different ways. But Mr. Dobb s later turn of phrase that entrepreneurs undertakers are the people who take the ruling decisions of economic life op. cit. p. 54 might well serve as a common motto for them all. In describing the period s work on this topic as one of its major contributions to economic analysis we have placed ourselves on the same It is natural however in a matter that concerns the central figure of the capitalist economy and moreover in a matter on which reliable factual information is for most economists so difficult to acquire that any functional theory must be under suspicion of ideological bias and that it must sooner or later be met by equally suspicious opposing theories the burden of which is to establish that the entrepreneur fills no productive function at all but merely preys upon the productive activity of A late contribution of note was s paper on The Function of the Entrepreneur American Economic Review March 1927 also see his survey The Entrepreneur Function in Economic Literature Journal of Political Economy August 1927 . German work simply continued an old tradition see . Victor Mataja Der Unternehmergewinn 1884 and the earlier publication Die Lehre vom Unternehmergewinn 1875 . It is a .

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