Joseph Schumpeter Thought That Depressions Were Part of the Process

question 2

True/False

Joseph Schumpeter thought that depressions were part of the process of adapting to new innovations.

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Definitions:

Ethical Relativism

A philosophical viewpoint suggesting that moral principles are valid only relative to specific social, cultural, or personal contexts.

Kant

Immanuel Kant, an 18th-century German philosopher who is known for his work on deontological ethics, the theory of knowledge, and aesthetics.

Autonomy

Independence. Intellectual autonomy is the ability of a rational person to reach his or her own conclusions about what to believe and what not to believe. Moral autonomy is the ability of a rational person to reach his or her own moral conclusions about what is right and what is wrong. (This does not mean that people will necessarily come to different conclusions.)

Psychological

Pertaining to the mind or mental processes, often focusing on behavior, cognition, emotions, and the mental functions in individuals.