Joseph Schumpeter Econ 490 fall 2019



Joseph Alois Schumpeter (1883 - 1950) was an economist and is regarded as one of the 20th century's greatest intellectuals. He is best known for his theories on business cycles and capitalist development and for introducing the concept of entrepreneurship.

I did not know Schumpeter before assigned the alias. I do not think his works of business cycle, capital development and introducing the concept of entrepreneurship are relevant for our course.

References



Comments

  1. Professor ArvanSeptember 12, 2019 at 10:30 AM

    Schumpeter is known for the phrase creative destruction. Old established industries get destroyed as new industries out compete them. So the theory is relevant to us in the sense that many organizations should be thought of as having a life-cycle. They won't exist forever. And while we won't focus on this question, it is surely an interesting question to ask when an organization will shut down.

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