Joseph A. Schumpeter

was an Austrian economist, finance minister of Austria and Professor at Harvard University who dedicated his thought to the examination of the tendency of growth in capitalistic systems. He coined the expression of “creative destruction” which occurs when inventions and innovations lead to the abolishment of old techniques and the rising of a new one.

 

Central Works

• The Theory of Development,
• Business Cycles: A Theoretical, Historical and Statistical Analysis of the Capitalist Process,
• Capitalism, Socialism and Democracy