Word: schumpeterian
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Dates: during 1950-1959
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...witnessed the introduction of a Schumpeterian innovation--television--and its vested interests have banded together against the innovator to the protect their invesment. Now several of the industry's moguls, led by entrepreneur extraordinary Harold E. Stassen, have decided that an oligopoly sustained by unlimited television broadcasting might be better than the present unprofitable and uneconomical free competition. It would certainly bring a better product to all the people at a lower price; it would avoid needless duplication of resources, and would stabilize the industry immeasurably...
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