Hansen argued that as compared to the nineteenth century the development at present suffered from two limitations viz:

Hansen argued that as compared to the nineteenth century the development at present suffered from two limitations viz:

A. Shifting frontiers and growing population
B. Decline in purchasing capacity and growing unemployment
C. Technological changes and presence of large labour force
D. Growing population and prevailing unemployment

Which one of the following has been wrongly listed as a defect of Schumpeter’s theory?

Which one of the following has been wrongly listed as a defect of Schumpeter’s theory?

A. He wrongly asserts that capitalism is crumbling and socialism is likely to replace it
B. His theory is defective in so far as it tries to present the spirit of enterprise as a phenomenon common to all social organisations
C. His assumption that all innovations are financed by borrowings is not correct because banks generally provide only short-term loans
D. None of the above