Published by Princeton University Press. Princeton,1991. Ocl,dj,viii,293p. Index.
Publisher's Price $ 35.00
Kloof Booksellers Price: EURO 12.00 + shipping.

Important biography describing the life and work of Joseph A. Schumpeter (1883-1950). In Austria / Hungary before the age of thirty he has written 3 important studies, the most important: Theory of Economic development (1911). He served as the Austrian Minister of Finance shortly after WW 1, only for 7 months and in the 1920s he also failed in business. Schumpeter spent the last two decades of his life as a popular and influential teacher at Harvard University. In recent years Schumpeter's emphasis on the unique role of the entrepreneur in modern economies has heightened public awareness of his theories, and his arguments are in many ways even more persuasive today, than they were during his lifetime.

The key to understand Schumpeter's thinking, this intellectual biography argues, is to realize that he intended to create a broad-based science of economics, or Sozialökonomik. This new economics was to consist of four parts: economic theory, economic sociology, economic history, and statistics. Schumpeter's major works - especially Theory of economic development (1911), Capitalism, Socialism & Democracy (1942), and History of Economic Analysis (posthumously published in 1954)- all testify to his sweeping vision of economics.

John Kenneth Galbraith on this book:
"Joseph Schumpeter, after Keynes, whom he detested and excoriated, was the most diversely talented economist of the years between the wars. This is the definitive work, wonderfully researched, on his life and writing. It will be the basic economic reference from now on."

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