Schumpeterian creative destruction in economic thought

The aim of this thesis determine Schumpeterian creative destruction effects in economic thought, analyze resemblances and differences of Classic, Neoclassic and Socialist thought with creative destruction both detailed and comparative. Material consist of economic thoughts in thesis study. Because economic thoughts are very large field, scope is limited as creative destruction and concepts of creative destruction pricnipal. In thesis through descriptive and interprestivist methods are used in general are reviewed the literature and maked comparison. Schumpeter builds his creative destruction analyze which he reveal effects of institutional economics, social economics and evolution (Darwin) thought, on innovation, entrepreneur and circular flow concepts. Schumpeterian creative destruction mean breakdown of circular flow which is result of integrated inovation in economic system by enterpreneur. Schumpeter identify creative destruction driving power of economic growth and reason of unsustainability of capitalism. We can see traces of creative destruction concept in classic, neoclassic and socialist thought. While there is findings from creative destruction concept, there is differences from Schumpeterian creative destruction in studies of Smith's and Ricardo's from classic thought, Marshall's, Solow's and Nelson and Arrow's from neoclassic thought, Marx's from marxist thought. In the view of Marx and Schumpeter economic system evolves result of technological development. Other economists whose studies are examined in thesis mention supply of economic growth but they don't speak of evolution of system.