Werner Sombart

Werner Sombart
Sombart
Born	(1863-01-19)19 January 1863 Ermsleben, Kingdom of Prussia
Died	18 May 1941(1941-05-18) (aged 78) Berlin, Nazi Germany
Nationality	German
Known for	Coining the term "late capitalism"
Scientific career
Fields	Economics, sociology, history
Institutions	University of Breslau, Handelshochschule Berlin, Friedrich-Wilhelms-Universität
Doctoral advisor	Gustav von Schmoller Adolph Wagner
Doctoral students	Wassily Leontief Richard Löwenthal

Werner Sombart (/ˈvɜːrnər ˈzɒmbɑːrt/; German: [ˈzɔmbaʁt]; 19 January 1863 – 18 May 1941) was a German economist, historian and sociologist. Head of the "Youngest Historical School," he was one of the leading Continental European social scientists during the first quarter of the 20th century. The term late capitalism is accredited to him. The concept of creative destruction associated with capitalism is also of his coinage. His magnum opus was Der moderne Kapitalismus. It was published in 3 volumes from 1902 through 1927. In Kapitalismus he described four stages in the development of capitalism from its earliest iteration as it evolved out of feudalism, which he called proto-capitalism to early, high and, finally, late capitalism —Spätkapitalismus— in the post World War I period.^[1]