Though a quarter of a century has elapsed since the first edition of Business Cycles, the opportunities it opened up for further research remain largely unexploited. The chief exception is Schumpeter's own Capitalism, Socialism, and Democracy. Much has been published on innovation and entrepreneurship, usually with a nod in Schumpeter's direction but no more. Even a work like Yusif A. Sayigh's Entrepre- neurs of Lebanon, which ostensibly takes Schumpeter's concepts as its starting point, actually deals with entrepreneurs as people—their edu- cation, religion, opinions, even the number of their children—to the neglect of what was central to Schumpeter's analysis, innovating.
