<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0188-3380</journal-id>
<journal-title><![CDATA[Economía: teoría y práctica]]></journal-title>
<abbrev-journal-title><![CDATA[Econ: teor. práct]]></abbrev-journal-title>
<issn>0188-3380</issn>
<publisher>
<publisher-name><![CDATA[Universidad Autónoma Metropolitana, a través de la Unidad Iztapalapa, la Unidad Azcapotzalco y la Unidad Xochimilco, División de Ciencias Sociales]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0188-33802021000100017</article-id>
<article-id pub-id-type="doi">10.24275/etypuam/ne/542021/solis</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Flujo circular y desenvolvimiento económico en el pensamiento monetario de Joseph Alois Schumpeter]]></article-title>
<article-title xml:lang="en"><![CDATA[Circular Flow and Economic Development in the Monetary Thought of Joseph Alois Schumpeter]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Solis Rosales]]></surname>
<given-names><![CDATA[Ricardo]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Cruz Romero]]></surname>
<given-names><![CDATA[Miguel Angel]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Autónoma Metropolitana  ]]></institution>
<addr-line><![CDATA[Unidad Iztapalapa ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad Autónoma Metropolitana  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2021</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2021</year>
</pub-date>
<numero>54</numero>
<fpage>17</fpage>
<lpage>36</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0188-33802021000100017&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0188-33802021000100017&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0188-33802021000100017&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen El objetivo del artículo es examinar, desde una perspectiva teórica, la incidencia de la tríada dinero-inversión-innovación en la teoría del desarrollo de Schumpeter. En comparación con el flujo circular, el desenvolvimiento implica la aparición de nuevos agentes y conceptos. El crédito creado por los bancos es un sustituto del ahorro en el financiamiento de la acumulación, por ende, cambian las condiciones bajo las cuales opera el mecanismo ahorro e inversión evocado por los autores clásicos. En el desenvolvimiento, hay bancos que aportan el capital a cambio de un interés y hay empresarios innovadores que lo emplean, esto significa que la inversión no se financia con ahorro sino con crédito bancario, creado &#8220;de la nada&#8221; por lo cual en una primera interpretación su volumen parece ser ilimitado. La implementación de la innovación implica un capital acrecentado, nuevos precios y el surgimiento de un interés bancario positivo derivado de las ganancias igualmente positivas para las empresas.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract The objective of the paper is to examine, from a theoretical perspective, the incidence of the money-investment-innovation triad in Schumpeter&#8217;s theory of development. In comparison with the circular flow, development implies the appearance of new agents and concepts. The credit created by banks is a substitute for the savings in financing the accumulation, therefore, the conditions under which the savings and investment mechanism evoked by the classic authors change. In the development there are banks that provide capital in exchange for an interest, and there are innovative entrepreneurs who use it. This means that the investment is not financed with savings but with bank credit, created &#8220;out of nothing&#8221; so in a first interpretation its volume seems to be unlimited. Implementation of innovation implies increased capital, new prices and the emergence of positive bank interest derived from equally positive profits for companies.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[Ahorro]]></kwd>
<kwd lng="es"><![CDATA[crédito]]></kwd>
<kwd lng="es"><![CDATA[innovación]]></kwd>
<kwd lng="es"><![CDATA[inversión]]></kwd>
<kwd lng="es"><![CDATA[desequilibrio monetario]]></kwd>
<kwd lng="es"><![CDATA[B1]]></kwd>
<kwd lng="es"><![CDATA[E22]]></kwd>
<kwd lng="es"><![CDATA[E40]]></kwd>
<kwd lng="es"><![CDATA[O31]]></kwd>
<kwd lng="en"><![CDATA[Savings]]></kwd>
<kwd lng="en"><![CDATA[credit]]></kwd>
<kwd lng="en"><![CDATA[innovation]]></kwd>
<kwd lng="en"><![CDATA[investment]]></kwd>
<kwd lng="en"><![CDATA[monetary disequilibrium]]></kwd>
<kwd lng="en"><![CDATA[B1]]></kwd>
<kwd lng="en"><![CDATA[E22]]></kwd>
<kwd lng="en"><![CDATA[E40]]></kwd>
<kwd lng="en"><![CDATA[O31]]></kwd>
</kwd-group>
</article-meta>
</front><back>
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