Suchergebnisse

This paper aims to show the evolution in the research project pursued in the first twenty issues of the Cahiers d'économie politique (CEP). First, I stress that the coherence of this project is due to the organization in the research work and to the consequent definition of the research topics. This singles out four stages in CEP's evolution. The first three stages lead to a new conception of the history of economic analysis which becomes the fundamental tool to allow a heterodox theorizing. This new conception leaves, however, open questions. The fourth stage analyzes these open questions but does not solve them by means of a combination between the critical approach in the history of economic analysis and a number of recent results
reached in the orthodox economic theory.

The purpose of the paper is to analyze the role which, according to Schumpeter, is played by bank financing in the realization of innovative and imitative processes for the opening of various periods of cyclical evolution. The limits of an analysis in terms of supply and demand of credit are stressed, because of the instability of the demand curve and the interdependence of supply and demand curves. Formal treatment of the market for credit allows to show that time differences in the streams of bank financing for the various agent groups do not require the operation of institutionnal rules.