Economics Dictionary of Arguments

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Brocker I 250
Crises/Monetary Policy/SchumpeterVsRoosevelt/SchumpeterVsNew Deal/Schumpeter: Schumpeter argued that the global economic crisis that began in 1929 was primarily due to monetary policy mistakes, and he was a sharp critic of the US-american New Deal policy under President Franklin D. Roosevelt, whom he blamed for the much delayed recovery after the global economic crisis. In his view, the tax and labour market policy measures, but also the populist motivations against private companies, were responsible for the fact that the economy was able to recover much more slowly than would otherwise have been possible (and likely). (1)


1. Joseph A. Schumpeter, Capitalism, Socialism and Democracy, New York 1942. Dt.: Joseph A. Schumpeter, Kapitalismus, Sozialismus und Demokratie, Tübingen/Basel 2005 (zuerst: Bern 1946). S. 109f.

Ingo Pies, „Joseph A. Schumpeter, Kapitalismus, Sozialismus und Demokratie (1942)“ in: Manfred Brocker (Hg.) Geschichte des politischen Denkens. Das 20. Jahrhundert. Frankfurt/M. 2018.


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Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution.
The note [Author1]Vs[Author2] or [Author]Vs[term] is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.

EconSchum I
Joseph A. Schumpeter
The Theory of Economic Development An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle, Cambridge/MA 1934
German Edition:
Theorie der wirtschaftlichen Entwicklung Leipzig 1912

Brocker I
Manfred Brocker
Geschichte des politischen Denkens. Das 20. Jahrhundert Frankfurt/M. 2018


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