Preface -- Introduction: Schumpeter's distinctive approach to price theory -- The theory of economic development -- Business cycle theory and statistical methods -- The price level and the price system -- Money, credit and the price level -- Norms, equilibrium and competition -- Norms for a...

Economic evolution involves structural change from within, so evolutionary price theory needs to address how prices facilitate and accommodate this structural change and how structural change in turn impacts on prices. Such analysis is impossible using neoclassical price theory in which...

Schumpeter distinguishes between the circular flow of economic activity and economic development. The former is characterised by equilibrium, while the latter involves discontinuous change. The price theory that Schumpeter associates with the circular flow is the well established Walrasian price...

We contribute to the task of identifying trends and cycles in energy prices by examining very long series of prices for coal and oil, going back to 1650 in the case of coal and 1859 in the case of oil. We find annual rates of increase in real price of greater than two percent are found for coal...