Joseph Schumpeter—Creative Destruction

The early 1900s belonged to big business, especially after World War I. Giant corporations came to dominate the economy and many believed that the age of the lone inventor and entrepreneur was over. Austrian economist Joseph Schumpeter believed differently. In this episode of Economic Game Changers, teens explore Schumpeter’s famous idea of “creative destruction” and discover why entrepreneurs—not established businesses or economic stability—drive innovation and growth.