J.A. Schumpeter (desde su biografía - 8)

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“What about entire countries? Is it possible to identify a coherent Schumpeterian program for national economic growth? Are there particular patterns of tax, fiscal, monetary, and employment policies? Did Schumpeter ever specify political measures for the systematic promotion of national economic health?

The answer is yes. He never became a policy-obsessed economist like Ricardo, Marx, or Keynes. Nor did he denounce governmental activism with the passion of his fellow Austrian Friedrich von Hayek or the American Milton Friedman. Nor he did serve as a frequent adviser to politicians, as thousands of other economists have done –including his own Nobel Prize-winning students Paul Samuelson and James Tobin.
Nevertheless, there is plenty of evidence about the policies Schumpeter favored, and it comes mainly from two sources: his tenure as Austria’s finance minister and the dozens of articles on public policy that he wrote during his years in Bonn.

The evidence for the results of policies Schumpeter favored is circumstantial –but so many factors affect a nation’s economic performance that the same is true for almost any set of policies. During the twentieth century, the line of evidence from Schumpeterian ideas to policies to outcomes is perhaps clearest in the high-performing East Asian economies of the late twentieth century, especially Japan, Korea, Taiwan, and Singapore. In Japan, during the period between the departure of the American occupation forces in 1952 and the oil shock of 1973, policy-makers adopted many of his suggestions quite closely. There was an extraordinary emphasis on saving and investment, a broad range of innovation across many industries, and a tremendous outburst of entrepreneurship in new companies such as Sony, Sanyo, and Honda. During those years Japan achieved the highest sustained economic growth of any major country in the history of the world.”