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Capital as Will and Imagination – Schumpeter's Guide to the Postwar Japanese Miracle - Cornell Scholarship Online
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Capital as Will and Imagination: Schumpeter's Guide to the Postwar Japanese Miracle

Mark Metzler


Joseph Schumpeter's conceptions of entrepreneurship, innovation, and creative destruction have been hugely influential. He pioneered the study of economic development and of technological paradigm shifts and was a forerunner of the emerging field of evolutionary economics. He is not thought of as a theorist of credit-supercharged high-speed growth, but this is what he became in postwar Japan. As this book shows, economists and planners in postwar Japan seized upon Schumpeter's ideas and put them directly to work. The inflationary creation of credit, as theorized by Schumpeter, was a vital but ... More

Keywords: Joseph Schumpeter, economic development, technological paradigm shifts, evolutionary economics, postwar Japan, Japanese capitalism, modern capital, entrepreneurship, innovation, creative destruction

Bibliographic Information

Print publication date: 2013 Print ISBN-13: 9780801451799
Published to Cornell Scholarship Online: August 2016 DOI:10.7591/cornell/9780801451799.001.0001


Affiliations are at time of print publication.

Mark Metzler, author
Associate Professor of History, the University of Texas, Austin