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Joseph Schumpeter, the Austrian American economist who pioneered the study of entrepreneurship during the last century, in his paper “The Creative Response in Economic History” (1947), claimed that entrepreneurs change the world with innovations and technology. Those “wild spirits,” as he called them, are moved by an Unternehmergeist, or “entrepreneur-spirit”, a concept he coined to describe the intrinsic nature of entrepreneurs as creators of new things or improvers of something already existing.