In his/her book The Theory of Economic Development, ________ argued that entrepreneurs develop new products and technologies that over time make current products and technologies obsolete. This process is called creative destruction.
A) Michael Porter
B) H.H. Stevenson
C) Joseph Schumpeter
D) Michael Gerber
E) Edith Penrose

Question

Quizplus · Accepted Answer

The Theory of Economic Development is a book written by Joseph Schumpeter, an Austrian economist. In this book, Schumpeter introduced the concept of creative destruction, which refers to the process where entrepreneurs develop new products or technologies that eventually replace older products or technologies. This concept is seen as a driving force behind economic growth and development.

In His/her Book the Theory of Economic Development, ________ Argued