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Schumpeter: Creative Destruction and Monopoly. This paper examines Joseph Schumpeter's theories of creative destruction and monopoly. Schumpeter agues that economic development is governed by disjointed, unpredictable and cataclysmic technological change-creative destruction. Therefore, monopolies cannot over time control markets: Technological change and the dynamic nature of economics makes monopoly irrelevant. 14 pgs. Bibliography lists 9 sources.
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