Birth Place Triesch, Austro-Hungary.
Posts Helds Teacher, Univ. Czernovitz and Graz, 1909-18; Pres., Biederman Bank, 1920-4; Prof., Univ., Bonn, 1925-32; Prof., Harvard Univ., 1932-50.
Degrees Grad. Univ. Vienna.
Offices and Honours Minister of Fin., Austria, 1919-20; Pres., American Economic Association, 1949; Founding member, Pres., Econometric Society, 1933.
Publications Books: 1. Das Wesen und der Hauptinhalt der theoretischen Nationalökonomie (1908); 2. The Theory of Economic Development (1912, 1934, 1949); 3. Economic Doctrines and Method (1914, 1954); 4. Crisis of the Tax State (1918); 5. Business Cycles, 2vols (1939); 6. Imperialism and Social Classes (1927, 1951); 7. Capitalism, Socialism and Democracy (1942, 1950); 8. Ten Great Economists (1951); 9. Essays of J. A. Schumpeter, ed. R. V. Clemence (1951); 10. History of Economic Analysis (1954).
Careea Great teacher and historian of economics, his own economic theory was complex and wide-ranging. The distinction between statics and dynamics was essential to his account of capitalism - certain periods approximating to equilibrium, and other exhibiting considerable change. His analysis of business cycles started from this point and distinguished the types and behaviour of cycles. The posthumous History... shows a prodigious grasp of the literature of economics. In this, as in his major book Capitalism, Socialism and Democracy, he relates economic phenomena and ideas to a wider context of social analysis. The latter, whilst rejecting the Marxian analysis, still envisages capitalism as moving by its own internal forces towards Schumpeter's vision of a socialist society.
Secondary Literature S. E. Harris, Schumpeter: Social Scientist (Harvard Univ. Press, 1951); W. F. Stolper, `Schumpeter, Joseph A', International Encyclopedia of the Social Sciences , D. L. Sills (ed.) (Macmillan and Free Press, 1968), vol. 14; A. Heertje, ed. Schumpeter's Vision: Capitalism, Socialism and Democracy After 40 Years (Praeger, 1981); H. Frisch, ed. Schumpeterian Economics (Praeger, 1981).