Schumpeter was on an unceasing quest to find out "how the economic system generates the force which incessantly transforms it" (growth and development force). His answer was that the key is:
A) the entrepreneur as creative destruction
B) homo economicus, economic man
C) price mechanism and competition
D) a combination of land, work and capital
E) a tendency towards balancing out supply and demand
F) laws of nature in the economy

Question

Quizplus · Accepted Answer

Schumpeter believed that the entrepreneur, through their actions of innovation and destruction of old methods and products, is the driving force behind economic growth and development. This concept is known as "creative destruction." Schumpeter saw entrepreneurs as the agents of change, pushing the economy forward and breaking away from the status quo.

Schumpeter Was on an Unceasing Quest to Find Out "How