Economic Ideas of Joseph Alois Schumpeter
The following points highlight the top six economic ideas of Joseph Alois Schumpeter. The economic ideas are: 1. Methods of Study 2. Role of Entrepreneur 3. Innovations 4. Schumpeter's Innovation Theory 5. Capital 6. Capitalism and Socialism. Economic Idea # 1. Methods of Study: Schumpeter believed that both inductive and deductive methods are necessary for the study of economic science. [...]