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The Theory of Economic Development. An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle

Category: Ionian History
Type: Standard
Book Title: Handbook of Entrepreneurship Research. An interdisciplinary survey and introduction
Author: Schumpeter A. Joseph
Edition: (2008)
Editor: Acs J. Zoltan and Audretsch B. David
Pages: 247-263
Publisher: Transaction Publishers
Library catalog: K.S.P.
Date: 1983
Location: New Brunswick (U.S.A.) and London (U.K.)

Abstract:

[6] ... Past economic periods govern the activity of the individual...not only because they have taught him sternly what he has to do, but also for another reason. During every period the farmer must live, either directly upon the physical product of the preceding period or upon what he can obtain with the proceeds of this product. All the preceding periods have, furthermore, entangled him in a net of social and economic connections which he cannot easily shake off. They have bequeathed him definite means and methods of production. All these hold him in iron fetters fast in his tracks. ...


The research project is implemented within the framework of the Action “Supporting Postdoctoral Researchers» of the Operational Program "Education and Lifelong Learning" (Action’s Beneficiary: General Secretariat for Research and Technology), and is co-financed by the European Social Fund (ESF) and the Greek State.