Joseph Schumpeter
Austrian political economist who popularized creative destruction
Joseph Alois Schumpeter was an Austrian political economist born in 1883 in Triesch, Habsburg Moravia.[1][2] He popularized the term "creative destruction" and is considered one of the most influential economists of the early 20th century.[3]
Quick Facts
- Birth name
- Joseph Alois Schumpeter
- School of thought
- Historical School; Lausanne School
- Born
- 8 February 1883
- Birthplace
- Triesch, Cisleithania, Austria-Hungary
- Died
- 8 January 1950
- Place of death
- Salisbury, Connecticut, US
- Citizenship
- US (from 1939)
- Field
- Economics
- Econometrics
- Political economy
- History of economic thought
Facts from the source article.
Life and work
Schumpeter's father died when he was four, and he moved to Vienna with his mother in 1893.[4] He studied law at the University of Vienna under Eugen von Böhm-Bawerk and received his doctorate in 1906.[5] In 1913–1914, he taught at Columbia University as an invited professor and received an honorary doctorate.[6] He was married three times, and his third wife was the economic historian Dr. Elizabeth Boody.[7][8]
The bank where Schumpeter was president failed in 1924, which caused him to go bankrupt.[9] Schumpeter was a professor at the University of Bonn in Germany from 1925 through 1932.[10] Schumpeter relocated to the United States in 1932 and obtained US citizenship in 1939.[10] On the night of January 8, 1950, at age 66, Schumpeter passed away at his Taconic, Connecticut residence.[11]
What the cited sources add
It also states that Schumpeter kept alive Nikolai Kondratiev's ideas on 50-year cycles.[9] The same source reports that Schumpeter rejected Keynesianism despite sharing Keynes's view that money is a separate driving force.[9] A Jacobin article states that Schumpeter was a member of Eugen von Böhm-Bawerk's graduate seminar alongside three leading Austro-Marxists.[12] That article also notes that Schumpeter saw imperialism as stemming from precapitalist social forces, not capitalism itself.[12]
According to one account, Schumpeter served as the first president of the Econometric Society, which was founded in 1933.[9]
References
- Wikipedia, "Joseph Schumpeter" (CC BY-SA 4.0), which cites: "Joseph Alois Schumpeter 1883–1950", econlib.org (original not read by us) en.wikipedia.org
- Wikipedia, "Joseph Schumpeter" (CC BY-SA 4.0), which cites: "Encyclopedia: Joseph Schumpeter" (original not read by us) en.wikipedia.org
- Wikipedia, "Joseph Schumpeter" (CC BY-SA 4.0), which cites: Westland, "Global Innovation Management", Macmillan International, 2016, p. 192; Topol, "The Creative Destruction of Medicine: How the Digital Revolution Will Create Better Health Care", Basic Books, 2012, p. v; Stone, "$200 Laptops Break a Business Model", The New York Times, January 25, 2009 (original not read by us) en.wikipedia.org
- Wikipedia, "Joseph Schumpeter" (CC BY-SA 4.0), which cites: Allen, "Opening Doors: the Life and Work of Joseph Schumpeter: Europe (Volume 1)", 1991; Reisman, "Schumpeter's Market: Enterprise and Evolution", Edward Elgar Publishing, 2004, p. 4; Shionoya, "Schumpeter and the Idea of Social Science: A Metatheoretical Study", Cambridge University Press, 2007, p. 14; Allen, "Opening Doors: the Life and Work of Joseph Schumpeter: Europe (Volume 1)", 1991 (original not read by us) en.wikipedia.org
- Wikipedia, "Joseph Schumpeter" (CC BY-SA 4.0), which cites: Ebeling, "Joseph A. Schumpeter, Outsider Looking In", American Institute for Economic Research, January 13, 2020 (original not read by us) en.wikipedia.org
- Wikipedia, "Joseph Schumpeter" (CC BY-SA 4.0), which cites: Stolper, "Joseph Alois Schumpeter: The Public Life of a Private Man", Princeton University Press, 2019-01-15; Swedberg, "Joseph A. Schumpeter: His Life and Work", John Wiley & Sons, 2013; Allen, "Opening Doors: Life and Work of Joseph Schumpeter: Volume 2, America", Routledge, 2017 (original not read by us) en.wikipedia.org
- Wikipedia, "Joseph Schumpeter" (CC BY-SA 4.0), which cites: Hawthorn, "Schumpeter the Superior", London Review of Books, February 27, 1992 (original not read by us) en.wikipedia.org
- Wikipedia, "Joseph Schumpeter" (CC BY-SA 4.0), which cites: Andersen, "Joseph A. Schumpeter: a theory of social and economic evolution", Palgrave Macmillan, 2011; "Romaine Elizabeth (Boody) Schumpeter, 1898-1953 – Social Networks and Archival Context", snaccooperative.org (original not read by us) en.wikipedia.org
- "Joseph Schumpeter", thelatinlibrary.com. facts only, no text reused. thelatinlibrary.com
- Wikipedia, "Joseph Schumpeter" (CC BY-SA 4.0), which cites: "Entrepreneurship, Competitiveness and Local Development", Edward Elgar, 2007, p. 5; McCraw, Prophet of Innovation, pp. 231–232.; Leontief, "Joseph A. Schumpeter (1883-1950)", Econometrica, 1950, p. 103–110; "Joseph Schumpeter and the Economics of Imperialism", jacobin.com; McCraw, pp. 317–321 (we also read that source) en.wikipedia.org
- Wikipedia, "Joseph Schumpeter" (CC BY-SA 4.0), which cites: Giersch, "The Age of Schumpeter", The American Economic Review, May 1984, p. 103–109 (original not read by us) en.wikipedia.org
- "Joseph Schumpeter and the Economics of Imperialism", jacobin.com. facts only, no text reused. jacobin.com
Each numbered sentence above was checked against the source it cites before publication. Sentences citing Wikipedia adapt text from the English Wikipedia article Joseph Schumpeter (contributors), used under CC BY-SA 4.0; this entry is available under the same licence. Other sources were used for facts only; no text or images are copied from them.
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