Schumpeter’s Entrepreneur and The German Historical School. A Critical Analysis

Abstract

This paper provides a fundamental critic of the Schumpeterian concept of entrepreneurship. Being one of the most influential economist of the 20th century, Schumpeter inspired many different lines of economic thought. The nexus of his theory, the concept of entrepreneurship, can be seen as his most important contribution to economic theory. A deeper understanding of the complex work of Schumpeter requires to identify the intellectual roots and the core of his thinking. This paper claims that the core in his thinking can be found in the conceptual basis of the German Historical School. It is reasoned that the Schumpeterian entrepreneur is understandable and inherently consistent, if he is interpreted as a representative of the thought system of German historicism. Key words: German Historical School - Schumpeter - Entrepreneurship. JEL Classification: A12, A14, B15, B25, B31, B53. Resumen: Este artículo critica de forma fundamental el concepto de función empresarial de Schumpeter e identifica que el origen conceptual de su teoría sobre el empresario se encuentra en la Escuela Histórica Alemana. Palabras clave: Escuela Histórica Alemana - Schumpeter - función empresarial. Clasificación JEL: A12, A14, B15, B25, B31, B53.