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Joseph Alois Schumpeter (German: [ˈʃʊmpeːtɐ]; February 8, 1883 – January 8, 1950) [4] 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 ...
Schumpeter devotes the first 56 pages of the book to an analysis of Marxian thought and the place within it for entrepreneurs. Noteworthy is the way that Schumpeter points out the difference between the capitalist and the entrepreneur, a distinction that he claims Karl Marx would have been better served to have made (p. 52). The analysis of ...
The International Joseph A. Schumpeter Society (ISS) is an economics association aimed at furthering research in the spirit of Joseph Schumpeter. Wolfgang F. Stolper and Horst Hanusch initiated the foundation of the society in 1986. [1]
The expression "creative destruction" was popularized by and is most associated with Joseph Schumpeter, particularly in his book Capitalism, Socialism and Democracy, first published in 1942. Already in his 1939 book Business Cycles , he attempted to refine the innovative ideas of Nikolai Kondratieff and his long-wave cycle which Schumpeter ...
The Research Center in Entrepreneurial History was a research center at Harvard University founded in 1948 with a grant from the Rockefeller Foundation.Led by the American economic historian Arthur H. Cole, the research center attracted numerous scholars, with varied backgrounds and religious beliefs, in the field of business and economic history such as Joseph Schumpeter, Fritz Redlich, and ...
Joseph Schumpeter was one of the first and most important scholars who extensively tackled the question of innovation in economics. [2] In contrast to his contemporary John Maynard Keynes, Schumpeter contended that evolving institutions, entrepreneurs and technological change were at the heart of economic growth, not independent forces that are largely unaffected by policy.
Neo-Schumpeterian economics is a school of thought that places technological innovation at the core of economic growth and transformation processes. It is inspired by the work of Joseph Schumpeter who coined the term creative destruction for the continuous introduction of technological change that drives growth by replacing old, less productive structures with new, more productive ones.
After 1930 the historical school declined or disappeared in most economics departments. It lingered in history departments and business schools. The major influence in the 1930s and 1940s was Joseph Schumpeter with his dynamic, change-oriented, and innovation-based economics. Although his writings could be critical of the school, Schumpeter's ...