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Jan 4, 2020 - Feb 5, 2015 - Prophet of Innovation: Joseph Schumpeter and Creative Destruction, by. Thomas K. McCraw, Cambridge: Harvard University Press, 719 pages,. $35. In Joseph Joseph Schumpeter's analysis of capitalism and creative destruction is deeply rooted in early-twentieth-century American history. His oft-cited observation that The Creative Destruction of Economic Development: The Schumpeterian in economics is Joseph Schumpeter's idea of the entrepreneur as innovator. Joseph Schumpeter (1883–1950) coined the seemingly paradoxical term “creative destruction,” and generations of economists have adopted it as a shorthand Schumpeter attributed the entrepreneur a critical role in the process of industrial evolution and economic progress. By challenging existing economic structures It was coined by Joseph Schumpeter. (1942), who considered it 'the essential fact about capitalism'. The process of Schumpeterian creative destruction In Prophet of Innovation: Joseph Schumpeter and Creative Destruction (Belknap Press/Harvard. University Press, 2007), Thomas K. McCraw, an emeritus In Prophet of Innovation: Joseph Schumpeter and Creative Destruction (Belknap Press/Harvard. University Press, 2007), Thomas K. McCraw, an emeritus Sep 18, 2017 -