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Joseph Schumpeter |
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He entered Bonn University with the intention of studying medicine-his father was a doctor-but switched to economics after attending a lecture by the famous economist of the Austrian school, Joseph Schumpeter, and came under his spell and that of his masterpiece, The Theory of Economic Development (1912). The second view is associated with the twentieth-century economist Joseph Schumpeter, who observed that candidates for public office market their positions in much the same way that a firm markets its products. Capitalism is a force of incessant "creative destruction," economist Joseph Schumpeter wrote in 1942, capable of provoking rapid and violent change in economic sectors and by extension among the lives of us mere mortals who inhabit them. |
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