Schumpeter's Theory of Economic Development: 100 years of development

This article sheds light on the impact of Schumpeter's Theory of Economic Development over the last 100 years, and identifies insights from that work that are less well-known, but that have the potential for informing current developments in evolutionary economics. We identify these insights by tracing the development of Schumpeter's ideas in Theory of Economic Development, which he revised heavily between the first and second German and the English editions. We not only report material lost in the process and developments in Schumpeter's thinking that can be read off of the revisions, but also indicate how the newfound material can inform and inspire evolutionary economics today.