ECO100Y1 Lecture : Schumpeter Pt.2

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3 Aug 2010

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November 10th 2009

SCHUMPETER

- 1948 t 65 years old

- 1946 t Keynes died

- Most famous economist ever

- Capitalism vs. socialism

- End of capital

- ^(]uv}vP}µvZ]µuo]vPvZZ](_

- ^ou}ooµ]v(]oµZÇ(]o}]vv}À_

- Innovation is more than just making money (power to conquer and power to survive)

- 1983 t Forbes proclaimed it was Schumpeter not Keynes that provided the best insight on

economic growth and change

- Late 20th vµÇ^Zµu[Á}l}vµ]vPÇUand creative destruction, received

attention

- It is impossible to agree/disagree with all the things Schumpeter said cause he often

contradicted himself

- Young Schumpeter vs. old schumpeter

www.notesolution.com

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