Theory of Economic Development First Edition - Joseph Schumpeter - Bauman Rare Books

Theory of Economic Development

Joseph SCHUMPETER

Item#: 106013 We're sorry, this item has been sold

Theory of Economic Development

“THE ENTREPRENEUR [AS] THE SOURCE OF ALL DYNAMIC CHANGE IN AN ECONOMY”: SCHUMPETER’S THEORY OF ECONOMIC DEVELOPMENT, IN RARE ORIGINAL DUST JACKET

SCHUMPETER, Joseph. The Theory of Economic Development. Cambridge: Harvard University Press, 1934. Octavo, original red cloth, original dust jacket. Housed in a custom clamshell box.

First edition in English of Schumpeter’s classic work on economic growth, in rare original dust jacket.

For economists ranging from Karl Marx to Alfred Marshall, the concept of "progress" in capitalist economies was vaguely defined as the consequence of technological developments. Joseph Schumpeter "was the outstanding exception from this judgment" (Roll, 541) because he identified "the entrepreneur [as] the source of all dynamic change in an economy" (Blaug, 446). They adapted new inventions to the market and their "creative destruction" generated economic progress. Schumpeter concludes that "the entrepreneurial function is not only the vehicle of continual reorganisation of the economic system but also the vehicle" of social mobility. Originally published as Theorie der wirtschaftlichen Entwicklung (copyright 1912; actually published Autumn 1911). Owner signature of George A. Eddy, a prominent mid-century government economist. In 1930s, he worked at both the Federal Reserve Bank of new York and the U.S. Treasury. After serving in World War II, he went back to the Treasury, where he worked under the director of the Division of Monetary Research. By 1948, he was promoted to Chief of Division for the Gold and Silver Exchange Stabilization Fund. Eventually, his expertise was used to help establish the Saudi Arabian Monetary Agency. During the 1950s, Eddy encountered significant career problems when he was accused of having communist sympathies. He was eventually cleared but resigned and began a book attempting to clear the names of others. A few markings to text.

Book near-fine, with a bit of pinpoint foxing mainly to endpapers and edges. Dust jacket near-fine, with light rubbing and toning manly to extremities and repair to edge of verso. A desirable copy with an interesting provenance.

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Aquatint Copperplate process by which the plate is “bitten” by exposure to acid. By changing the areas of the plate that are exposed and the length of time the plate is submerged in the acid bath, the engraver can obtain fine and varying shades of gray that closely resemble watercolor washes. Although the name contains the word “tint”, this is a black-and-white printing process; aquatint plates can often be hand colored, however.
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