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According to Schumpeter, innovations are essen-. tial to explaining econo mic growth, and the “entrepreneur” is the cent ral innovator. As. Schumpeter described in The Theory of Economic ...
- Karol Śledzik
according to Schumpeter, has a seeming ‘midas-touch’ the entrepreneurship factor is the most active and dynamic one, which has an ‘innovative’ trait-which no other factor of production has. Academy of Entrepreneurship Journal Volume 25, Issue 4, 2019
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- Tariq Mehmood, Haitham M. Alzoubi, Muhammad Alshurideh, Anwar Al-Gasaymeh, Gouher Ahmed
- 10
- 2019
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Dec 6, 2019 · according to Schumpeter, has a seemi ng ‘midas-touch’ the entrepreneurship factor is the most active and dynamic one, which has an ‘innovative’ trait -which no other factor of production has.
Aug 9, 2016 · Oftentimes, the benefits of entrepreneurship to society are linked to so-called ‘Schumpeterian entrepreneurs’ – referring to Schumpeter’s early theory on ‘creative destruction’ (Schumpeter Citation 1934). In his understanding, vibrant economies are characterized by a constant birth and death of firms.
- Joern H. Block, Christian O. Fisch, Mirjam van Praag
- 2017
Schumpeter introduced the hypothesis of entrepre-neurial innovation as the primary factor that pro-pels capitalist economies upward. He explained that it is the entrepreneur who creates innovation and further pointed out that innovation is not only invention.Schumpeter’sentrepreneursweredriven by numerous factors such as competition to
Innovation is the ac- nomic change in the capitalist economy. tivity or function of a particular set of indi- Professor Schumpeter's starting point is an viduals called entrepreneurs. The entrepre- economy from which change (though not neur is a sociological type that can be isolated growth) is assumed to be absent.'.
The entrepreneur could be either a founder or an employee. But the image of a “captain of industry” or a creator seems to be a more consistent concept according to the Schumpeterian entrepreneur. J.A. Schumpeter insists on the very specific character of the entrepreneur. He compares the entrepreneur to people who belong to a particular species.
