Is Capitalism Really Endangered? Some Remarks Upon the “Entrepreneurial Function” and Schumpeterian Routine

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  • 資本主義は本当に絶滅の危機に瀕しているか－「企業者機能」とシュンペーター的ルーティンについての一考察

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Abstract

Schumpeter thought that capitalism was doomed to disappear. The specific threat against it is a dangerous routine(called in this paper "schumpeterian routine") at work in large-scale businesses, which ineluctably contaminates thewhole economic system with big firms spreading in economic life. For Schumpeter, the growing importance of teamworkin these big firms could lead to "the obsolescence of the entrepreneurial function".This "entrepreneurial function" is at the heart of capitalism: entrepreneurs are in the midst of creative destructionand, to earn exceptionally high profits, make revolutionary "new things" that cause the instability of capitalism.Our point is that, in fact, capitalism is not presently endangered. It efficiently resists schumpeterian routine and the"entrepreneurial function" is not about to become obsolete. Moreover, the action of schumpeterian routine in big firmsremains to be proven and the hypothesis of generalization of large-scale businesses in economic life is not supported byfacts. Big firms can be useful, side-by-side with little firms, if governments succeed in finding "the right blend" necessary to economic growth.

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