According to Joseph Schumpeter, many Midwestern railroads
A) were built too late and thus faced heavy competition from trucks.
B) were built ahead of demand.
C) were unnecessary because they followed routes already adequately served by other means of transportation.
D) would have been built more quickly in the absence of government aid.

Question

Quizplus · Accepted Answer

Schumpeter argued that many Midwestern railroads were built ahead of demand, reflecting his view on the nature of capitalist economies and the role of entrepreneurs in creating markets where none previously existed.

According to Joseph Schumpeter, Many Midwestern Railroads