They were named after economist Joseph Schumpeter, who saw profits made by businesses as resulting from the development of new processes which disturb economic equilibrium, temporarily raising revenues above their resource costs.
The result is the rise of the local rate of profit, as the respective commodity is now produced cheaper by this enterprise alone, yet can still be sold for its general market price.
In Marxian theory, the earning of extra surplus value is what drives and guides the capitalist, and thus capitalism itself.
His main findings were that searching for and creating entrepreneurial rents gives rise to supernormal profits in short to medium term.
[5] Entrepreneurial rents are crucial for innovation and development, which play the leading role in generating economic growth.