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- The Schumpeterian entrepreneur: a review of the empirical evidence on the antecedents, behaviour and consequences of innovative entrepreneurship
www.tandfonline.com/doi/full/10.1080/13662716.2016.1216397The Schumpeterian entrepreneur: a review of the empirical ...
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.
The purpose of this paper is the analysis of the Schumpeter’s innovation concept in a context of “first” and “second” Entrepreneurship theory.
- Karol Śledzik
Schumpeter’s Innovation Theory provides that the leading role of an entrepreneur in the economic field is the introduction of innovations from which the reward is gaining profits. The model stipulates that entrepreneurship plays a decisive role in fiscal development and that successful creativities are the only way to achieve such goals as ...
- Schumpeter’s Early Theory
- Schumpeter’s Later Theory
- The “Creative Destruction” Process of Innovation
Schumpeter pioneered the idea that entrepreneurial innovation was central to economic change and development. Schumpeter’s first theory about the role of the entrepreneur was presented in 1911 when he authored a book about the evolution of economies while he was a professor of economics and government at the University of Czernowitz. His book was t...
Schumpeter presented a further elaboration of his ideas after studying how the capitalist system is affected by market innovations. This contribution came in 1942, during the Second World War, in the book “Capitalism, Socialism and Democracy.” Schumpeter’s analysis came on the heels of the Great Depression when the defense of democracy and the stru...
According to Schumpeter, the innovational process revolutionizes the economic structure from within, relentlessly destroying the old one while continually creating a new one. The process of creative destruction is the essential attribute of capitalism (Schumpeter 1942, p. 83), and Schumpeter described, “the history of capitalism is studded with vio...
- christopher.ziemnowicz@uncp.edu
The field of entrepreneurship theory owed much to Schumpeter's contributions. His fundamental theories are often referred to [49] as Mark I and Mark II. In Mark I, Schumpeter argued that the innovation and technological change of a nation come from entrepreneurs or wild spirits.
Joseph Alois Schumpeter is arguably the most important economist of the 20 th century. Most readers are familiar with his Theory of Economic Development and his classic Capitalism, Socialism and Democracy.
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Sombart introduced a new leader who animates the entire economic system by creative innovations. This entrepreneur combined the powers of organization described by Schmoller with a personality and ability to elicit maximum productivity from individuals engaged in the productive process.
