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IMG_0003_NEW_0011 - o Then shocks destroy old sources of...

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Creative destruction o Schumpeter believed that price competition was not as important as competition between new products,.nelv technologies and new sources of orgaruzatron. o He describedperiods of guietwhenfirms that have superior products earn positive economic profits.
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Unformatted text preview: o Then shocks destroy old sources of advantage and replace them with riew ones: "creative destruction". o Schumpeter's ideas harre been used to defend monopoly on the grounds that concentration of wealth leads to gleater irrvestments in innovation....
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This note was uploaded on 12/29/2011 for the course ECON 6 taught by Professor Dianne during the Fall '10 term at Simon Fraser.

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