2. Joseph Schumpeter - Economist

Joseph Schumpeter was an influential economist known for his theories on innovation and entrepreneurship. He introduced the concept of "creative destruction," where new innovations replace outdated practices, driving economic growth. Schumpeter believed that entrepreneurs play a crucial role in this process by developing new products and services, reshaping industries. He also emphasized the importance of competition and suggested that economic change is inevitable and essential for progress. His ideas highlight how dynamic and transformative economic development can be, underscoring the relationship between innovation and capitalism.