Prophet of Innovation: Joseph Schumpeter and Creative

Prophet of Innovation: Joseph Schumpeter and Creative Destruction
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Pan Am, Gimbelâ€™s, Pullman, Douglas Aircraft, Digital Equipment Corporation, British Leylandâ€•all once as strong as dinosaurs, all now just as extinct. Destruction of businesses, fortunes, products, and careers is the price of progress toward a better material life. No one understood this bedrock economic principle better than Joseph A. Schumpeter. â€œCreative destruction,â€ he said, is the driving force of capitalism.
Described by John Kenneth Galbraith as â€œthe most sophisticated conservativeâ€ of the twentieth century, Schumpeter made his mark as the prophet of incessant change. His vision was stark: Nearly all businesses fail, victims of innovation by their competitors. Businesspeople ignore this lesson at their perilâ€•to survive, they must be entrepreneurial and think strategically. Yet in Schumpeterâ€™s view, the general prosperity produced by the â€œcapitalist engineâ€ far outweighs the wreckage it leaves behind.
During a tumultuous life spanning two world wars, the Great Depression, and the early Cold War, Schumpeter reinvented himself many times. From boy wonder in turn-of-the-century Vienna to captivating Harvard professor, he was stalked by tragedy and haunted by the specter of his rival, John Maynard Keynes. By 1983â€•the centennial of the birth of both menâ€•Forbes christened Schumpeter, not Keynes, the best navigator through the turbulent seas of globalization. Time has proved that assessment accurate.
Prophet of Innovation is also the private story of a man rescued repeatedly by women who loved him and put his well-being above their own. Without them, he would likely have perished, so fierce were the conflicts between his reason and his emotions. Drawing on all of Schumpeterâ€™s writings, including many intimate diaries and letters never before used, this biography paints the full portrait of a magnetic figure who aspired to become the worldâ€™s greatest economist, lover, and horsemanâ€•and admitted to failure only with the horses.

Country	USA
Brand	Belknap Press
Manufacturer	Belknap Press: An Imprint of Harvard University Press
Binding	Paperback
ItemPartNumber	9780674034815
UnitCount	1
Format	Illustrated
UPCs	000674034813
EANs	9780674034815
ReleaseDate	2010-03-30

Prophet of Innovation: Joseph Schumpeter and Creative Destruction

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