Joseph Schumpeter and Dynamic Economic Change

Joseph Schumpeter and Dynamic Economic Change

Joseph Schumpeter (1883–1950) viewed capitalism as a dynamic engine of progress. In his view, mature economic systems find a regular and stable routine of supply, demand, and exchange; Schumpeter called this the “circular flow.” Entrepreneurs interrupt this circular flow with new ideas and visions about the economic future, recombining existing resources to create new and more valuable products and services.

Schumpeter called capitalism a process of “creative… (more)

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Book Details  


Publisher: Knowledge Products (February 01, 2006)

Duration: 55:20 hours

File size: 218 MB

Language: English


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