ABSTRACT
There is something surprising in the fact that Schumpeter’s theory of business cycles has received considerably less attention from members of the profession than some of his other contributions such as, in particular, his theory of innovation and entrepreneurship or his ideas on firm concentration and technological competition. A number of commentators have drawn attention to this differential treatment of Schumpeter’s theory of the business cycle vis-à-vis other parts of his work, most notably among these some of the contributors to Cunningham Wood’s collection of Critical Assessments of Schumpeter who have provided a number of explanations for its relative lack of success.
