what is schumpeterian growth 
schumpeterian growth is economic growth that is driven by innovation and governed by the process of creative destruction formal economic models have been created that operationalize schumpeter s notion of creative destruction these models of growth help economists understand the role of competition firm dynamics and cross firm and cross sector reallocation the bottom linejoseph schumpeter s work initially received little acclaim due in part to the great popularity of his contemporary john maynard keynes that changed over time and he is now viewed as one of the greatest economists of modern times he introduced the concept of the entrepreneur and the influence of entrepreneurship on economic systems his theory of creative destruction has become the centerpiece for modern thinking on how economies evolve especially capitalist ones 