{"resolved":true,"match_type":"uuid","source_type":"original_book","book_id":"d3ee5fbb-1124-4191-99e1-3139801e0da2","title":"Time The Modern and Postmodern Experience","author":null,"edition":null,"publisher":null,"year":null,"isbn":null,"requested_by":"printed_page","book":{"source_type":"original_book","book_id":"d3ee5fbb-1124-4191-99e1-3139801e0da2","id":"d3ee5fbb-1124-4191-99e1-3139801e0da2","uuid":"d3ee5fbb-1124-4191-99e1-3139801e0da2","title":"Time The Modern and Postmodern Experience","normalized_title":"timethemodernandpostmodernexperience","author":null,"edition":null,"publisher":null,"year":null,"isbn":null,"isbns":[],"parsed":true,"ai_readable":true,"document_type":"book","page_count":178,"navigation_url":"https://workshop.closeclaw.top/ai/book/d3ee5fbb-1124-4191-99e1-3139801e0da2","title_url":"https://workshop.closeclaw.top/ai/title/Time%20The%20Modern%20and%20Postmodern%20Experience","fixed_page_url_template":"https://workshop.closeclaw.top/ai/book/d3ee5fbb-1124-4191-99e1-3139801e0da2/page/{printed_page}","path_api_url_template":"https://workshop.closeclaw.top/api/ai/book/d3ee5fbb-1124-4191-99e1-3139801e0da2/page/{printed_page}","read_url":"https://workshop.closeclaw.top/api/ai/read/d3ee5fbb-1124-4191-99e1-3139801e0da2","page_url":"https://workshop.closeclaw.top/api/ai/books/d3ee5fbb-1124-4191-99e1-3139801e0da2/page","search_url":"https://workshop.closeclaw.top/api/ai/books/d3ee5fbb-1124-4191-99e1-3139801e0da2/search"},"page":{"printed_page":89,"pdf_page":89,"physical_index":89,"physical_index_base":0,"printed_page_status":"recognized","page_sha256":"41a676f0d1b8e63ed77fd17e292d1fcb3d61b421100ceb179674cf4a356ed01a"},"chapter":"An Embarrassment of Proper Times:","content":"What the Enlightenment lacked, a dynamic concept of economics, was now made good in economic practice. The period of transformation, which separates knowledge and research from application and use, became the driving element in capitalist competition geared to innovations, through the instrument of the market and with the aid of new contemporaries, the capitalist entrepreneurs. The entrepreneurs had devoted themselves to implementing whatever was new on the market at any one time and dedicated their work, in Joseph Schumpeter's succinctly coined phrase, to creative destruction. The entrepreneurs were shaped by the new age and its temporality. The element of creative destruction refers to the process of innovation itself, to the accelerated process of making way for new products and procedures. But what sustains the market in temporal terms, what constitutes its specific temporality, is the temporary cost advantage which the capitalist entrepreneur can expect. The motive force is profit. In Schumpeter's version, the entrepreneur knows how to gain a cost advantage - admittedly only a temporary one – with the aid of innovation in the face of the large number of traditionally oriented 'hosts of the economic cycle', who remain attached to the old, static order of the circulation of goods.1⁵ Entrepreneurial profit thus arises from the discrepancy between the market price prevailing on static markets and the individual cost price at which the entrepreneur can produce by virtue of innovation. Schumpeter wishes to trace the law of societal development, and he thinks that this law is indigenous to the sphere of economics. The final cause, and the motor of development, is the sporadically occurring changes, brought about by creative individuals, in the productive combination'of new goods, new methods of production, new markets and sources of raw materials, as well as the creation of new forms of organization, particularly those of monopolies. These new combinations lead sooner or later to institutional adaptations, which result in qualitative changes in the structure of society. Through entrepreneurial capitalism, according to this classical interpretation, business life is removed from a stationary state into one of perpetual dynamism, of continual innovation. As Schumpeter and other observers noticed, the innovations usually occur in droves': this results in the economic waves which had struck Marx and Kondratiev and others as a characteristic of economic development under capitalist circumstances. The abrupt changes in a previously stationary state lead to signs of an upswing in the economy which are only superseded by a countermovement after some time. The occurrence in droves'of innovations, their bundling up in phases of innovation, is put down to the fact that countless imitators stick to the heels of the successful entrepreneur, and that the willingness of consumers to accept innovations grows in the course of time.\n\nCronos's Fear of the New Age\n\n89","previous_page":88,"next_page":90}