Concept information
Preferred term
Joseph Schumpeter
Definition
- A giant among 20th-century economists, Joseph Schumpeter is best known for his path-breaking work on capitalism, innovation, entrepreneurship, and growth. He coined the phrase creative destruction to describe capitalistic growth as the ceaseless killing off of old ways of doing business by the new. [Source: The Encyclopedia of Libertarianism; Schumpeter, Joseph (1883–1950)]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/Joseph_Schumpeter
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