What did Schumpeter identify as a central activity of economic prosperity in his analysis of economic development?

Question

Quizplus · Accepted Answer

Schumpeter identified "innovation and the destruction of outdated doctrine" as central to economic prosperity, a concept he famously termed "creative destruction." This process involves the introduction of new products, technologies, or methods that render existing ones obsolete, driving economic development forward.

What Did Schumpeter Identify as a Central Activity of Economic