Joseph Schumpeter
Joseph Schumpeter | |
|---|---|
Schumpeter in 1945 | |
| Born | February 8, 1883 |
| Died | January 8, 1950 (aged 66) Salisbury, Connecticut, US |
| Nationality | Austrian |
| Citizenship | Austria United States |
| Academic background | |
| Education | University of Vienna (PhD, 1906) |
| Doctoral advisor | Eugen von Böhm-Bawerk |
| Influences | |
| Academic work | |
| Discipline | Economics Econometrics Political economy History of economic thought |
| School or tradition | Historical School Lausanne School |
| Institutions | Harvard 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 |
| Doctoral students | Ferdinand A. Hermens Paul Samuelson James Tobin Anne Carter |
| Notable students | Nicholas Georgescu-Roegen Paul Sweezy Hyman Minsky |
| Notable ideas | Business cycles Creative destruction Economic development Entrepreneurship Evolutionary economics |
| Part of a series on |
| Capitalism |
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Joseph Alois Schumpeter (German: [ˈʃʊmpeːtɐ]; February 8, 1883 – January 8, 1950) 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 creative destruction, a term coined by Werner Sombart. His magnum opus is considered Capitalism, Socialism and Democracy.