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The expression "creative destruction" was popularized by and is most associated with Joseph Schumpeter, particularly in his book Capitalism, Socialism and Democracy, first published in 1942. Already in his 1939 book Business Cycles , he attempted to refine the innovative ideas of Nikolai Kondratieff and his long-wave cycle which Schumpeter ...
Schumpeter was one of the most influential economists of the early 20th century, and popularized the term "creative destruction", coined by Werner Sombart. [ 5 ] [ 6 ] [ 7 ] His magnum opus is considered Capitalism, Socialism and Democracy .
Schumpeter answers "no" in the prologue to this section. But he says, “If a doctor predicts that his patient will die presently,” he wrote, “this does not mean that he desires it.” The section consists of 100 pages with the following ten topics: The Rate of Increase of Total Output; Plausible Capitalism; The Process of Creative Destruction
Following Joseph Schumpeter, research should respect "facts as they are and behave and not as one wishes them to be or behave." [ 2 ] The ISS organizes a biannual conference on topics that mirror Schumpeterian ideas, helps financing international conferences, and promotes the dissemination of research through conference proceedings and other ...
The three major themes of the book include productivity (output per hours worked), creative destruction, and politics. Creative destruction—a term coined by political economist Joseph Schumpeter in his 1942 book Capitalism, Socialism and Democracy—is defined as the "process of industrial mutation…that incessantly revolutionizes the ...
Entrepreneurship employs what Schumpeter called the "gale of creative destruction" [39] to replace in whole or in part inferior offerings across markets and industries, simultaneously creating new products and new business models, [citation needed] thus creative destruction is largely [quantify] responsible for long-term economic growth.
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One strength of the text is the account that it gives of Joseph Schumpeter's process of creative destruction. [3] Rogge helped organize a series of lectures by Milton Friedman at Wabash that were eventually developed into Friedman's Capitalism and Freedom book. [4]