“Situations emerge in the process of creative destruction in which many firms may have to perish that nevertheless would be able to live on vigorously and usefully if they could weather a particular storm.”

About Joseph Alois Schumpeter

Economist • Austrian-American

Joseph Alois Schumpeter was an influential Austrian-American economist and political scientist renowned for his contributions to economic theory. He is most famous for popularizing the term 'creative destruction' to...