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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 ...
Capitalism, Socialism, and Democracy is a book on economics, sociology, and history by Joseph Schumpeter, arguably his most famous, controversial, and important work. It's also one of the most famous, controversial, and important books on social theory, social sciences, and economics —in which Schumpeter deals with capitalism, socialism, and creative destruction.
In Schumpeter's vision of capitalism, innovative entry by entrepreneurs was the disruptive force that sustained economic growth, even as it destroyed the value of established companies and laborers that enjoyed some degree of monopoly power derived from previous technological, organizational, regulatory, and economic paradigms.
(Original Caption) Joseph Alois Schumpeter (1883-1950), Czech-born economist and professor at Harvard University. His theories on the development of capitalism made him famous Undated photograph.
Joseph Alois Schumpeter (1883–1950) was an Austrian School economist and political scientist best known for his works on business cycles and innovation. He insisted on the role of the entrepreneurs in an economy.
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]
Additionally, economist Joseph Schumpeter pointed out a couple of issues he believed undermined the validity of the labor theory of value. Firstly he wrote that labor theory of value failed to take into account the intrinsic differences in labor quality between individuals (a difference that, he believed, could not be properly encapsulated ...
The Soviet economist Nikolai Kondratiev (also written Kondratieff or Kondratyev) was the first to bring these observations to international attention in his book The Long Waves in Economic Life (1926) alongside other works written in the same decade. In 1939, Joseph Schumpeter suggested
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related to: joseph schumpeter economics