Monday, February 8, 2016

Joseph Schumpeter and Capitalist Creative Destruction

Another email from Richard Ebeling:

Dear Bob,

Today is the birthday of the Austrian-born economist, Joseph A. Schumpeter, famous for coining the phrase the "perennial gale of creative destruction" to describe the nature and affects of the competitive process of innovative entrepreneurship in a freemarket economy.

The Future of Freedom Foundation has posted a piece by me, "Joseph Schumpeter, the 'Father' of Capitalist 'Creative Destruction,' in which I offer a summary of Schumpeter's life and work in the understanding of economic ideas and the workings of the capitalist system.


1 comment:

  1. Happy Birthday Joe !

    Perhaps his predictions of capitalism becoming weak and being destroyed by democracy and the intellectuals should be explored more.
    Seems to be coming true.