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forty In response to Schumpeter, an entrepreneur is prepared and in a position to convert a brand new idea or invention right into a profitable innovation forty one Entrepreneurship employs what Schumpeter referred to as the “gale of artistic destruction ” forty two to interchange in whole or partly inferior offerings across markets and industries, simultaneously creating new products and new enterprise models , citation wanted thus artistic destruction is largely quantify answerable for long-time period financial development The concept that entrepreneurship leads to economic progress is an interpretation of the residual in endogenous development concept clarification needed and as such continues to be debated in educational economics.
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