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Joseph Schumpeter Viewed Capitalism as a Process of "Creative Destruction

Question 158

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Joseph Schumpeter viewed capitalism as a process of "creative destruction" because


A) profitable firms are bought out by larger firms.
B) capitalism would create wealth, but government would destroy it.
C) the creation of new products would destroy the market for existing products.
D) invention is a creative process, but most ideas are destroyed when entrepreneurs develop and market products.

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