Schumpeter on How to Come out of the 2011 Crisis: A Possible Turning Point: Examples and Theories in a Country like Italy
Manuela Ciani Scarnicci

Abstract
After 2008 a lot of economists of the past made a comeback. Indeed, after this phase everybody acclaimed John Maynard Keynes’s theories (1883-1946). The crisis of 2011, with strong budgetary deficits of different countries, neglected Keynes’s theories, not because these ones are wrong, but only because at the moment, they are lacking in applicability. In today’s world, we need pragmatism. An author, on the other hand, who should be considered to urge economy during this new crisis is Joseph Alois Schumpeter (1883-1950). The experiences examined such as those of Furpile S.p.a. and Rohan S.r.l. or those of Professor Annalisa Romani’s Research Centre at the University of Florence showed how Schumpeter’s theories on innovation can delineate one of the keys to resolve the crisis.

Full Text: PDF