Joseph Schumpeter

Joseph Alois Schumpeter (German: [ˈʃʊmpeːtɐ]; February 8, 1883 – January 8, 1950)[3] was an Austrian political economist. He was born in Moravia, and briefly served as Finance Minister of German-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.

Joseph Schumpeter
Born(1883-02-08)February 8, 1883
DiedJanuary 8, 1950(1950-01-08) (aged 66)
NationalityAustrian and American
InstitutionHarvard University, 1932–50
University of Bonn, 1925–32
Biedermann Bank, 1921–24
University of Graz, 1912–14
University of Czernowitz, 1909–11
FieldEconomics, econometrics
School or
tradition
Historical school of economics
Lausanne School
Alma materUniversity of Vienna
Doctoral
advisor
Eugen Böhm von Bawerk
Doctoral
students
Ferdinand A. Hermens
Paul Samuelson
James Tobin[1]
Anne Carter[2]
Other notable studentsNicholas Georgescu-Roegen
Paul Sweezy
Hyman Minsky
InfluencesWalras · Schmoller · Pareto · Menger · Weber · Sombart
ContributionsBusiness cycles
Creative destruction
Economic development
Entrepreneurship
Evolutionary economics

Schumpeter was one of the most influential economists of the early 20th century, and popularized the term "creative destruction", which was coined by Werner Sombart.[4][5][6]