Lifelong learning as an element of the innovation model of Joseph Schumpeter

The paper deals with the classic innovation model of Joseph Schumpeter, which identifies two main ways to overcome the economic crisis: stimulating economic growth and stimulating economic development. Given the state of the socio-economic environment, the most preferable today is the second approach that involves increasing entrepreneurial activity in society. However, the current education system does not always effectively cope with the task of forming and developing entrepreneurial competencies. It is concluded that lifelong learning can be considered the main format of entrepreneurial education. The paper attempts to consider lifelong learning as an element of Schumpeter’s innovation model, as well as to give its interpretation in the context of training and development approaches that exist within the framework of conceptual management models.