Word: schumpeterian
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...assassination. He stood mute, tears coursing down his cheeks. Then he filched a picture of J.F.K. and joyfully told the world of his loving larceny. He held that picture to his heart the rest of his life. Once in Nixon's White House I listened to Moynihan expound on Schumpeterian economics while the snout of an opened champagne bottle peeked out of a desk drawer. "Pat's great," Nixon once told me, "as long as you get to him before noon." For my dime, he was great after noon or any other time, following the Churchillian example of being able...
...witnessed the introduction of a Schumpeterian innovation--television--and its vested interests have banded together against the innovator to the protect their invesment. Now several of the industry's moguls, led by entrepreneur extraordinary Harold E. Stassen, have decided that an oligopoly sustained by unlimited television broadcasting might be better than the present unprofitable and uneconomical free competition. It would certainly bring a better product to all the people at a lower price; it would avoid needless duplication of resources, and would stabilize the industry immeasurably...
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