ABSTRACT OF PAPER
Title: Schumpeter on Unemployment
Author:
Joseph Alois Schumpeter’s approach to the phenomenon of unemployment differs strongly from the traditional classification with its strict distinctions between frictional, cyclical and structural unemployment. By relating these three categories to his theory of creative destruction, Schumpeter collapsed them all into one: technological unemployment. His treatment of the machinery problem is similar to Knut Wicksell’s, but was apparently developed independently and differs in some interesting aspects. In our paper, we provide an overview and discussion of Schumpeter’s varied writings on unemployment, from 1908 to (posthumous) 1954. We compare his view with the positions of some of his contemporaries, such as Wicksell, Hans Neisser and John Maynard Keynes. Finally we discuss, in how far recent writers, such as Philippe Aghion, Peter Howitt and Ricardo Caballero, have been able to integrate Schumpeter’s approach into modern macroeconomics. (joint paper with Mauro Boianovsky, Universidade de Brasilia)
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