Question
Who developed the innovations theory of profit ?
Answer: Option A
Answer: (a)
Joseph Alois Schumpeter (1883-1950) was an Austrian-born American economist and social scientist. He did important early analyses of business cycles and economic growth.
He pinpointed technical innovation as the chief contributor to growth. In Capitatism, Socialism and Democracy (1942), he argued that capitalism would naturally evolve into socialism through its very success.
Was this answer helpful ?
Answer: (a)
Joseph Alois Schumpeter (1883-1950) was an Austrian-born American economist and social scientist. He did important early analyses of business cycles and economic growth.
He pinpointed technical innovation as the chief contributor to growth. In Capitatism, Socialism and Democracy (1942), he argued that capitalism would naturally evolve into socialism through its very success.
Was this answer helpful ?
More Questions on This Topic :
Question 1. A low interest policy is also known as :
....
Question 3. Quasi rent is a_________ phenomenon.....
Question 5. Production refers to....
Question 7. Under Perfect Competition
....
Question 8. Economies of Scale means reduction in
....
Submit Solution