joseph schumpeter (Meaning)
joseph schumpeter (n)
United States economist (born in Czechoslovakia) (1883-1950)
Synonyms & Antonyms of joseph schumpeter
No Synonyms and anytonyms found
joseph schumpeter Sentence Examples
- Joseph Schumpeter, an Austrian-born economist, made significant contributions to the study of economic development and innovation.
- Schumpeter coined the term "entrepreneurial profit" to describe the extra profit that an entrepreneur earns by bringing a new product or service to market.
- In his book "The Economics of Development," Schumpeter argued that the driving force behind economic growth is not saving and investment, but rather innovation and technological change.
- Schumpeter's theory of "the gale of creative destruction" posits that innovation leads to the destruction of existing businesses and industries, but this destruction is ultimately outweighed by the creation of new industries and markets.
- Schumpeter's concept of "schumpeterian competition" emphasizes the importance of innovation and market leadership in driving economic growth.
- According to Schumpeter, the entrepreneur is the driving force behind economic development and innovation.
- Schumpeter argued that the capitalist system is inherently dynamic and entrepreneurial, and that it is this dynamic quality that drives economic growth and progress.
- Schumpeter's work on economic development and innovation has significantly influenced modern economic thought and policy.
- Although Schumpeter was a prolific writer and economist, he is perhaps best known for his 1912 work, "The Theory of Economic Development," which revolutionized the field of economic analysis.
- Joseph Schumpeter's contributions to economic theory and analysis remain relevant and significant in today's globalized and innovation-centered economy.
FAQs About the word joseph schumpeter
United States economist (born in Czechoslovakia) (1883-1950)
No synonyms found.
No antonyms found.
Joseph Schumpeter, an Austrian-born economist, made significant contributions to the study of economic development and innovation.
Schumpeter coined the term "entrepreneurial profit" to describe the extra profit that an entrepreneur earns by bringing a new product or service to market.
In his book "The Economics of Development," Schumpeter argued that the driving force behind economic growth is not saving and investment, but rather innovation and technological change.
Schumpeter's theory of "the gale of creative destruction" posits that innovation leads to the destruction of existing businesses and industries, but this destruction is ultimately outweighed by the creation of new industries and markets.
