The Schumpeterian view of competition emphasizes the role of innovation and entrepreneurship

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The Schumpeterian view of competition is based on the belief that innovation and entrepreneurship are the primary drivers of economic growth and development. It emphasizes the importance of creative destruction, whereby new innovations and ideas replace old ones, leading to increased efficiency and productivity in the economy. Schumpeter saw competition not as a zero-sum game, but rather as a dynamic process of creative destruction that drives progress and prosperity.

The Schumpeterian View of Competition Emphasizes the Role of Innovation