Monday, February 8, 2016
Joseph Schumpeter and Capitalist Creative Destruction
Another email from Richard Ebeling:
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.
at 1:11:00 PM