Joseph Schumpeter photo

Joseph Schumpeter

People know Moravian-born Joseph Alois Schumpeter, an American, for his theories of socioeconomic evolution and the development of capitalism.

This political scientist briefly served as finance minister of Austria in 1919. Of the 20th century, the most influential Schumpeter popularized the term "creative destruction."

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“The first thing a man will do for his ideal is lie”
Joseph Schumpeter
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“History is a record of "effects" the vast majority of which nobody intended to produce.”
Joseph Schumpeter
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