Joseph Shumpeter and Dynamic Economic Change: Capitalism as "Creative Destruction" by Laurence S. Moss

Great Economic Thinkers

Joseph Shumpeter and Dynamic Economic Change: Capitalism as "Creative Destruction"

Laurence S. Moss

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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 inte...

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