Schumpeter: Father of Innovation and Entrepreneurship
Keywords:
Schumpeter, Innovation, Entrepreneurship, Creative DestructionAbstract
Joseph Schumpeter, a worldwide well-known economist since the mid-20th century until the present days. He influenced a number of notably persons including professor Paul Samuelson, the first American who win the Nobel Memorial Prize in Economic Sciences as well as professor Peter Drucker, a world’s remarkable management guru. The influencing works of Schumpeter consisted of the concepts of business cycle, moral economy, economic development, innovation and entrepreneurship. His outstanding reputation and performances made Schumpeter recognized as Father of Innovation and Entrepreneurship. However, a prominent person’s life never perfect. There were times of suffering, loving, being hated, succeeding, and giving words of inspiration for the upcoming generations. Study of his life history, work experiences and his ideas in various dimensions brought about advantages for those who learned and implemented for both working life as well as personal life for self-development to reach expected success.
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