Business Cycles
Business Cycles: A Theoretical, Historical, and Statistical Analysis of the Capitalist Process by Joseph A. Schumpeter explores the dynamics of economic fluctuations and the cycles of growth and recession inherent in capitalist economies. Schumpeter presents his theory of "creative destruction," describing how innovation drives economic progress, disrupts existing markets, and leads to cyclical patterns of expansion and contraction. Through a blend of theory and historical analysis, Schumpeter examines how innovations, entrepreneurship, and market competition shape long-term economic development.
By Joseph A. Schumpeter
Published: 1939
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