Joseph Alois Schumpeter
(Trest, Moravia, 1883-Salisbury, Connecticut, 1950) Austrian economist and sociologist.Joseph Schumpeter began his higher education in Vienna, where he was a disciple of Friedrich Von Wieser and Eugen von Böhm-Bawerk, prominent representatives of the Austrian marginalist school.In 1907 he continued his studies in Great Britain.Austrian Finance Minister (1919), devoted himself mainly to teaching, being a professor at Bonn and Harvard.In 1932 he settled permanently in the United States.
Joseph A.Schumpeter
Joseph Schumpeter's work, one of the most extensive to be produced in the 20th century, exerted a broad influence on economic thought and social sciences as a whole.Schumpeter stressed the importance of entrepreneurs, the creation of credit and technology in economic development, in addition to arguing with socialism.
One of the concepts introduced by Schumpeter that would have more popularity was that of innovation.According to him, there is a state of no growth, the economic "circuit," and a state of growth, the "evolution"; the passage from the "circuit" to "evolution" is effected through innovations, which are the engine of growth.
Schumpeter is the author, among other works, of Theory of economic evolution (1912), Business cycles (1939), Capitalism, socialism and democracy (1942), History of economic analysis (1954) and the essay Ten great economists: from Marx to Keynes (1951), in addition to various studies on the thinking of Max Weber, Vilfredo Pareto, Leon Walras, Carl Menger, Alfred Marshall, Irving Fisher and John Maynard Keynes.
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