Theory of Creative Destruction and Economic Development: a discussion from the perspective of entrepreneurship and sustainable development

Abstract

The purpose of this article is to confront the assumptions of the Theory of Creative Destruction, formulated by Joseph Alois Schumpeter in the book Socialism, Capitalism and Democracy, in 1942, with the current stage of entrepreneurial entrepreneurship and development in postmodern society, where globalization of the economy and neoliberalism guide the market and the entire world production system. The basis of the analysis was the book mentioned, however, other theorists who discuss the subject were consulted and served as a subsidy for the conclusion reached about the current theory of the object of the study. The concept of development elaborated by the author does not find support in the formulations of contemporary theorists, for whom planning is a primary step in conducting a company in search of profit.