Joseph Schumpeter

Joseph A. Schumpeter (1883–1950) was an Austrian-American economist who studied under Carl Menger’s students Friedrich von Wieser, Eugen von Böhm-Bawerk, and Eugen Philippovich in Vienna. He habilitated in 1908 with Das Wesen und der Hauptinhalt der theoretischen Nationalökonomie, held professorships at Czernowitz and Graz, and briefly served as Austrian finance minister in 1919 before resigning seven months later. He taught in Bonn from 1925 and at Harvard from 1932, where he wrote his best-known works: Business Cycles (1939), Capitalism, Socialism, and Democracy (1942), and History of Economic Analysis (1954).