A note from Daniel

In an evolutionary economy, technology can be thought of as mutation. As in nature, not all mutations are beneficial, and not all of them stick around. But some provide such an advantage that they are reproduced throughout a population and become the new norm. Schumpeter emphasized the role of the entrepreneur in creating technological innovations and establishing them in the mar-ket, asserting that they are the disruptive force that both initiates change and capitalizes on it.

Daniel The Great Mental Models, Volume 4, page 152 · December 24, 2024 Save to shelf
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