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Schumpeter believed that capitalism is a dynamic system driven by innovation and entrepreneurship. However, he also believed that capitalism cannot survive in the long run. Over time, the process of bureaucratization and the weakening of the bourgeois ethic will undermine capitalism. Schumpeter saw entrepreneurs as elite leaders who drive new innovations but whose role cannot sustain capitalism indefinitely as profits decline and the system becomes routinized. His theory of capitalism and its fate presents

Author

eitve

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EN