Ment an inquiry into pro fi ts capital credit interest and the business cycle 1934 is clearly one of the most in fl uential economic texts of the 20th century. Interest profit productive interest and business fluctuations capital credit and entrepreneurs can better be explained by reference to processes of development a static economy would know no productive interest which has its source in the profits that arise from the process of development successful execution of new combinations. The theory of economic development an inquiry into profits capital credit interest and the business cycle the theory of economic development schumpeter proclaims in this classical analysis of capitalist society first published in 1911 that economics is a natural self regulating mechanism when undisturbed by social and other meddlers. The theory of economic development an inquiry into profits capital credit interest and the business cycle harvard economic studies volume xlvi joseph a schumpeter on amazoncom free shipping on qualifying offers the theory of economic development an inquiry into profits capital credit interest and the business cycle harvard economic studies. The theory of economic development an inquiry into profits capital credit interest and the business cycle responsibility joseph a schumpeter translated by redvers opie