1612Political ScienceMedium
Which one of the following has been wrongly listed as a defect of Schumpeter’s theory?
AHis assumption that all innovations are financed by borrowings is not correct because banks generally provide only short-term loans
BHe wrongly asserts that capitalism is crumbling and socialism is likely to replace it
CHis theory is defective in so far as it tries to present the spirit of enterprise as a phenomenon common to all social organisations
DNone of the above
Correct answer
D. None of the above
Explanation
The correct answer is None of the above.