Seventy years ago, on January 8, 1950, one of the most famous economists of the 20 th century passed away at the age of 66, Joseph A. Schumpeter. During and after his lifetime, he has been identified ...

L'Enfant terrible, 1883-1926: Innovation and economics -- Prologue: Who he was and what he did -- Leaving home -- Shaping his character -- Learning economics -- Moving out -- Career takeoff -- War and ...

My guess is that average literate Americans know of three 20th-century economists: John Maynard Keynes, Milton Friedman, and Alan Greenspan. Perhaps they also know of Paul Samuelson (but as textbook ...

Schumpeter had the vision about entrepreneurs as an agent of change who will destroy the equilibrium Creative destruction refers to the incessant product and process innovation mechanism by which new ...

Few economists have shaped our understanding of capitalism as deeply as Joseph Schumpeter. He argued that modern growth is a sequence of industrial revolutions in miniature, where new products, firms, ...

Forbes magazine once suggested that Schumpeter, rather than Keynes, is the seminal economist for our time. Schumpeter had a dynamic vision of capitalism, stressed entrepreneurship, and yet saw that a ...

Eighty years ago, in the midst of the Second World War, Austrian-born economist Joseph A. Schumpeter published one of his most famous books, Capitalism, Socialism, and Democracy (1942). A central ...