Economists For An Expanding Universe

These days, a growing school of economists are asking what propels growth and drawing inspiration from the ideas of Joseph A. Schumpeter (1883-1950), the Austrian economist and Harvard University professor. Like Schumpeter, these economists are focusing on technology, innovation, and knowledge. And the underlying message of the Schumpeterians is fundamentally optimistic. "The one fact that comes from economic history is the ability of the human mind to break through barriers that weren't imaginable 50 years ago." says Joel Mokyr, economic historian at Northwestern University.

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