Joseph Schumpeter

HISTORY

BOOKS

MAJOR CONTRIBUTION

CREATIVE DESTRUCTION

DOWNSIDE OF CREATIVE DESTRUCTION

CASE : iPOD
 History
Dates Events

1906 Completion of PHD from University of Vienna

1911 Theory of Economic Development

1919 Austrian Minister of Finance

1921-1924 President of a small Viennese Banking House and collapse

of bank

1932 Took position and Ruled Harvard during the period of

“Depression Generation”
 Books
Dates Books

1911 The Theory of Economic Development: An inquiry into

profits, capital, credit, interest and the business cycle

1919 The Sociology of Imperialisms

1939 Business Cycles

1942 Capitalism, Socialism and Democracy

1954 (Post his death) History of Economic Analysis

 Major Contribution

 Business Cycles
 Economic development
 Entrepreneurship
 Evolutionary economics
 Creative Destruction
 Innovation
 Creative Destruction
C S D
a o e
pi ci m
ta al oc
lis is ra
m cy
m
A term coined by Joseph Schumpeter in his work
entitled "Capitalism, Socialism and Democracy"
(1942) to denote a "process of industrial mutation
that incessantly revolutionizes the economic
structure from within, incessantly destroying the
old one, incessantly creating a new one."
Downside of Creative Destruction

Economic
Distress

Long – Term
Society Small Entity
 Apple iPod

 2001 : iPod Released

 Steve Jobs : Digital Downloadable Media

 iTunes Stores : New Product – Kahney

 Innovation in iPod : iTouch

Presented by:
Roshni Bhatia
Ketan Parmar