Capitalism Is Alive and Well: How Venture Entrepreneurs Saved Schumpeter's Entrepreneur

Joseph Schumpeter lamented that capitalism would not survive because he thought that its defining process—creative destruction—would be overshadowed by large firms. Witnessing the emergence of rising numbers of increasingly large firms, Schumpeter did not think that those responsible for creative destruction—individual entrepreneurs—would be able to obtain sufficient funding to be able develop and launch new products competitively. Because...