1. While the mature Schumpeter would look to large, incumbent firms as the instigators of economic development, the young Schumpeter located the entrepreneur at the heart of the process of economic development 27 . The entrepreneur "is the cause of economic development;there is a stark difference between the young Schumpeter (of ',1942
2. Moreover, humans exerts social pressure on one another not to stick out and most people very reasonably conform to those pressures. Taken together, these two factors conspire to create in economic agents a 'static-hedonic disposition'. Much like how the economy is modally in a state of circular flow, so too do people of this disposition make up the broad, broad masses of human society. Such people "do not have the disposition to experiment with something new. Even when it occasionally happens that they have an idea;Before turning to the dynamism, it is worth understanding why economics worked (and works) well under conditions of stability. In such situations, economic agents are not just well-behaved and rational. They are also both placid and hedonic