The Schumpeterian methodology belongs to the evolutionary paradigm which can be used as an original monetary paradigm. It is opposed to the real paradigm of which the philosophy is a static one. The real paradigm is conceived in a fixed environment in order to discover some immutable natural laws of the economic system. In economic analysis, the problem of change is thought in terms of some form of mechanistic determinism. The deterministic philosophy assumes there is no essential novelty in the World, for it regards the future as implicit in the past. So, Schumpeter has remarked in Capitalism, Socialism, and Democracy that the basic fact that “in dealing with capitalism we are dealing with an evolutionary process”. We have great implications of profound importance using the concepts of process in a constant change which involves the emergence of new forms. In this perspective, we can state that Schumpeterian methodological shift could lead to an alternative view on the economic analysis and change profoundly the current paradigm. Following this methodological choice and trying to develop some Schumpeterian premises, we adopt an alternative point of view considering that contrary to Real paradigm, all economic relations depend on and become effectives by money. Moreover, the scientific analysis is not simply a process starting with some primitive notions and then adds to the stock in a straight-line fashion. It is an “incessant struggle with creations of our own and our predecessors’ minds and it ‘progress’, if at all, in a criss-cross fashion, not as logic, but as the impact of new ideas or observations or needs, and also as the bents and temperaments of new men, dictate”Schumpeter criticizes explicitly the integration of money into the real analysis of the barter model in which money itself is construed from barter. Historically, this method of building up the analysis of money, currency, and banking is readily understandable on the practical level. But logically, it seems to be impossible to deduce the exchange value of money from the curves of marginal utilityThe theoretical difficulties of the real paradigm to integrate money in a rational manner in the walrasian model confirm this assertion and can justify the change of paradigm done by Schumpeter. Analytical and methodological implications of this move are fundamentals.
