Business professor speaks on recent publication

BB&T Distinguished Professor of Economics and Entrepreneurship Russell Sobel spoke about his new book, The Essential Joseph Schumpeter, at an event in the BB&T Moral Foundations of Capitalism Speaker Series, co-sponsored by the American Institute for Economic Research’s Bastiat Society of Charleston. The presentation explored the differing definitions of entrepreneurship, the contrast between invention and innovation, the role of the profit and loss system, and how Schumpeter’s process of “creative destruction”—the destruction of existing industries by new innovations—drives economic progress.