Tagged: Economics

Schumpeter: Creative Destruction. 1942

The following excerpt is Chapter 7 of Joseph Schumpeter’s book “Capitalism, Socialism, Democracy, originally written in 1942. It describes Capitalism as an evolutionary process, with continuous creative destruction of old...

Economics

Economics is a social science that analyzes the production, distribution, and consumption of goods and services. In this definition, Economics is one of the more fundamental sciences, because it examines...