Kevin A. Hassett was a resident scholar at the American Enterprise Institute. In September 2017 he was confirmed as Chairman of the Council of Economic Advisers. In his landmark 1942 book, “Capitalism ...

Schumpeter had the vision about entrepreneurs as an agent of change who will destroy the equilibrium Creative destruction refers to the incessant product and process innovation mechanism by which new ...

My guess is that average literate Americans know of three 20th-century economists: John Maynard Keynes, Milton Friedman, and Alan Greenspan. Perhaps they also know of Paul Samuelson (but as textbook ...

Prophet of Innovation Joseph Schumpeter and Creative Destruction by Thomas K. McCraw Harvard, 736 pp., $35 Economics, Carlyle famously grumbled, is the ...

People who don’t much like modern capitalism, American-style, can take comfort in the pessimism of Joseph Schumpeter. In his 1942 book, Capitalism, Socialism, and Democracy, the Austrian economist ...

I’m glad Bruce brought up Schumpeter, for it is he, rather than Schumacher, who ought to be the patron economist of crunchy conservatism. Not only did Schumpeter argue that capitalism undermined the ...

David Joseph Hoppock is a freelance and healthcare technology specialist. He has 3+ years of experience writing about personal finance. David Kindness is a Certified Public Accountant (CPA) and an ...

The Dispatch is a digital media company featuring conservative, fact-based news and commentary. What is the defining characteristic of capitalism? Some say profit. Others, private ownership. Still ...

See more of our trusted coverage when you search. Prefer Newsweek on Google to see more of our trusted coverage when you search. We are now living, it is said, in the Age of Schumpeter. The Age of Who ...

The debate over America’s electric power mix has exposed that some partisans have a near-theological devotion to particular fuels. Opinions on retiring coal and nuclear plants and prospects for ...

There is an inconvenient truth about Joseph Schumpeter, patron saint of this column. As an economist, his biggest contribution was to single out entrepreneurs as core to the business cycle. Early in ...