Is Joseph Schumpeter's theory of economic development still useful? The case of a semirural community in Colombia

This chapter claims that the La Chamba community in central Colombia exhibits some characteristics of Schumpeter's (1949) concept of economic development. This case is important because it represents several mestizo communities in Latin America, which are deeply involved in domestic and international craft markets. The market economy penetrates the ceramic community of La Chamba, fostering technological change, improving economic development (as Schumpeter defines it), and creating economic differences across households.