Explanation : Under his concept of creative destruction, Schumpeter distinguished between two types of investment that he called induced and autonomous. Induced investment arose from the discrepancy between supply and demand and autonomous investment from resources and technology created by the entrepreneurs. He also introduced a concept of "saving up" which is different from saving-in the neoclassical growth models. Saving up constituted the part of output that is with-held from investment and consumption. ....Read more