Money, Banking and Dynamics: Schumpeter vs. Hayek

Agnès Festré (1)

1 GREDEG - Groupe de Recherche en Droit, Economie et Gestion

In the first section we discuss the Wicksellian origins of Schumpeter's and Hayek's approaches to money and banking in the context of dynamic economic analysis.
The second section compares the role played by banks and credit in Schumpeter's and Hayek's explanation of economic fluctuations. We conclude by contrasting both authors' perception of economic dynamics.

Mots clés: Banking; credit theory; business cycles

Domaines: Economies et finances

Agnès Festré. Money, Banking and Dynamics: Schumpeter vs. Hayek. The Contribution of Joseph Schumpeter to Economics: Economic Development and Institutional Change, R. Arena and C. Dangel-Hagnauer, pp.221-240, 2002. ⟨halshs-00271359⟩