Schumpeter had the vision about entrepreneurs as an agent of change who will destroy the equilibrium Creative destruction refers to the incessant product and process innovation mechanism by which ...
The term was coined in the early 1940s by economist Joseph Schumpeter, who observed real-life examples of creative destruction, such as Henry Ford’s assembly line. Creative destruction can be ...
Departing from the literature of S&T and innovation studies that treats innovation as a market or enterprise's behavior in Schumpeter's sense, Sun and Cao argue that it involves politics, institutions ...