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Schumpeter by Palak Ahuja is a document available to read on EtoBox.
What is Schumpeter about?
Schumpeter described the entrepreneur as one who innovates by introducing new products, production methods, markets, supply sources, or organizations. He argued innovation drives economic development by disrupting equilibrium and creating profits. Schumpeter assigned the role of innovator to entrepreneurs, who are motivated to earn profits and establish private kingdoms. Their innovations create booms until new products displace old ones, causing recessions as the circular flow adjusts.
- Author
- Palak Ahuja
- Language
- EN