Triumph of the new.(books, arts & manners)(Prophet of Innovation: Joseph Schumpeter and Creative Destruction)(Book review)

National Review | July 9, 2007| | Copyright

Prophet of Innovation: Joseph Schumpeter and Creative Destruction, by Thomas K. McCraw (Belknap, 736 pp., $35)

EVERY few years, public interest in innovation and entrepreneurship undergoes something of a revival. We're in one of those periods.

Business pages brim with news of entrepreneurial returns to private equity firms and innovative financial engineering at hedge funds. A new wave of Internet start-ups, such as YouTube and MySpace, reminds the public that entrepreneurs keep creating the "new new thing" that can augment or transform existing business ...

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