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Quote by Joseph A. Schumpeter

“The strategic stimulus to economic development in Schumpeter's analysis is innovation, defined as the commercial or industrial application of something new---a new product, process or method of production, a new market or source of supply, a new form of commercial, business or financial organization.”

Quote by Joseph A. Schumpeter

Book:The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle

Work

The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle

This book delves into the intricate relationships between economic development and various financial and business elements, providing a detailed analysis of the dynamics of profits, capital accumulation, credit systems, and the cyclical nature of economic activity. more

Author

Joseph A. Schumpeter

Joseph A. Schumpeter was a renowned economist known for his research on innovation and entrepreneurship. His theories have had a profound impact on modern economics. more

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