Joseph Schumpeter Argued That the Engine of Growth and Development

question 11

Essay

Joseph Schumpeter argued that the engine of growth and development is the capitalist system.What arguments did Schumpeter offer to support his views?

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Definitions:

Nations

Large groups of people who share common historical, cultural, or linguistic roots, inhabiting a particular country or territory.

Contamination

The presence or introduction of harmful or undesirable substances, making something impure or unfit for use.

Indigenous Peoples

Ethnic groups who are the original inhabitants of a region, and maintain traditions distinct from the dominant culture of a country.

High Levels

Refers to a significant amount or degree of a certain variable, often used in the context of measurements, quantities, or intensity.