Schumpeter and the Underdeveloped Countries

Abstract

I. Introductory: statements by Wallich and others of the inapplicability to the underdeveloped countries of Schumpeter's theory of economic development, 422. — II. Criticism of the contrasts drawn between the underdeveloped countries and Schumpeter's model as to the motive force of development (governments, not private entrepreneurs) and the goals of development (public good, not private gain), 424. — III. And as to the method of development (assimilation, not innovation), 433. — IV. Consideration of the significance of the international demonstration effect, 438. — V. Criticism of Bonné's complaints of the limitations of Schumpeter's conception of economic development, 440. — VI. Account of the reasons for Schumpeter's self-imposed limitations, 445. — VII. Summary and conclusion, 447.