Joseph Schumpeter

Joseph Schumpeter
Born(1883-02-08)February 8, 1883
DiedJanuary 8, 1950(1950-01-08) (aged 66)
Salisbury, Connecticut, US
NationalityAustrian
CitizenshipAustria
United States
EducationUniversity of Vienna (PhD, 1906)
Academic career
InstitutionHarvard University, 1932–50
University of Bonn, 1925–32
Biedermann Bank, 1921–24
Columbia University, 1913–1914
University of Graz, 1912–14
University of Czernowitz, 1909–11
FieldEconomics
Econometrics
Political economy
History of economic thought
School or
tradition
Historical school of economics
Lausanne School
Doctoral
advisor
Eugen Böhm von Bawerk
Doctoral
students
Ferdinand A. Hermens
Paul Samuelson
James Tobin[1]
Anne Carter[2]
Other notable studentsNicholas Georgescu-Roegen
Paul Sweezy
Hyman Minsky
InfluencesBastiat · Walras · Schmoller · Pareto · SmithMarxKeynesMenger · Weber · Sombart
ContributionsBusiness cycles
Creative destruction
Economic development
Entrepreneurship
Evolutionary economics

Joseph Alois Schumpeter (German: [ˈʃʊmpeːtɐ]; February 8, 1883 – January 8, 1950)[3] was an Austrian political economist. He served briefly as Finance Minister of Austria in 1919. In 1932, he emigrated to the United States to become a professor at Harvard University, where he remained until the end of his career, and in 1939 obtained American citizenship.

Schumpeter was one of the most influential economists of the early 20th century, and popularized the term "creative destruction", coined by Werner Sombart.[4][5][6]

  1. ^ Tobin, James (1986). "James Tobin". In Breit, William; Spencer, Roger W. (eds.). Lives of the Laureates, Seven Nobel Economists. Cambridge, Massachusetts, London, England: MIT Press. Archived from the original on August 26, 2003.
  2. ^ McCulloch, Rachel. "Interview with Anne Carter".
  3. ^ "Joseph Alois Schumpeter 1883–1950". econlib.org. Retrieved December 5, 2023.
  4. ^ Westland, J. Christopher (2016). Global Innovation Management. Macmillan International. p. 192. ISBN 9781137520197. Archived from the original on March 10, 2021. Retrieved July 23, 2022.
  5. ^ Topol, Eric (2012). The Creative Destruction of Medicine: How the Digital Revolution Will Create Better Health Care. Basic Books. p. v. ISBN 978-0465025503. Retrieved December 19, 2019. popularized the term creative destruction.
  6. ^ Stone, Brad; Vance, Ashlee (January 25, 2009). "$200 Laptops Break a Business Model". The New York Times. Retrieved September 21, 2010.

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