Books

Treatise on Money

– Mann, Fritz Karl (ed.), Alvarado, Ruben (trans.), Aalten, Netherlands: Wordbridge, 2014, xxxviii, 335 pp.
From Amazon: Together with John Maynard Keynes and Milton Friedman, Joseph Schumpeter is regarded as one of the three greatest economists of the 20th century. And yet, his actual economic writing has remained something of an enigma. Capitalism, Socialism, and… More

The Nature and Essence of Economic Theory

– McDaniel, Bruce A. (trans.), New Brunswick, New Jersey: Transaction, 2009, 490 pp.
From Amazon: In a tribute to Joseph A. Schumpeter, a great figure in the history and development of economics, this work brings together for publication his brilliantly crafted lectures delivered more than a century ago. In The Nature and Essence of Economic… More

History of Economic Analysis

– New York: Oxford University Press, 1954, xxv, 1260 pp.; New York: Oxford University Press, 1996, 1320 pp.
From Oxford University Press: At the time of his death in 1950, Joseph Schumpeter – one of the great economists of the first half of the 20th century – was working on his monumental History of Economic Analysis. A complete history of efforts to understand… More

Economic Doctrine and Method: An Historical Sketch

– New York: Oxford University Press, 1954, 207 pp.; London: Routledge, 2003, 207 pp.
Beginning with a survey of economic thought from Aristotle to modern times, this book goes on to trace the development of the concept of the circular flow of economic forces. The final sections cover the theorems of the classical economists and the genesis of… More

Ten Great Economists: From Marx to Keynes

– New York: Oxford University Press, 1951, xiv, 305 pp.; San Diego, California: Simon, 2003, xiv, 305 pp.
Brilliant evaluations of the men most influential in shaping economic thought: Marx, Walras, Menger, Marshall, Pareto, Bohm-Bawerk, Taussig, Fisher, Mitchell and Keynes, In the Appendix: Knapp, von Wiser and Bortkiewitz.

Imperialism and Social Classes

– New York: A.M. Kelly, 1951, xxv, 221 pp.; Eastford, Connecticut: Martino, 2014, 248 pp.
From Amazon: Joseph Schumpeter was not a member of the Austrian School, but he was an enormously creative classical liberal, and this 1919 book shows him at his best. He presents a theory of how states become empires and applies his insight to explaining many… More

Rudimentary Mathematics for Economists and Statisticians

– With Crum, William Leonard, New York, McGraw-Hill, 1946, xi, 183 pp.
Excerpt: The objective of this book is to present rudimentary ideas and operations essential to any effective mathematical reasoning by economists and statisticians.

Capitalism, Socialism and Democracy

– New York: Harper & Brothers, 1942, x, 381 pp.; New York: Harper Perennial Modern Thought, 2008, xxxii, 431 pp.
From Harper & Brothers: Capitalism, Socialism and Democracy is one of the great classics in twentieth century social science. What makes Schumpeter’s book so brilliant are three things in particular: its novel view of democracy; its heretic… More

The Theory of Economic Development: An Inquiry Into Profits, Capital, Credit, Interest, and the Business Cycle

– With Opie, Redvers, Cambridge, Massachusetts: Harvard University Press, 1934, xii, 255 pp.; New Brunswick, New Jersey: Transaction, 1983, xiv, 255 pp.
From Harvard University Press: Joseph A. Schumpeter proclaims in this classical analysis of capitalist society first published in 1911 that economics is a natural self-regulating mechanism when undisturbed by “social and other meddlers.” Despite… More

Commentary

[in chronological order]

Schumpeter’s Heirs

– Rose, Gideon. "Schumpeter's Heirs." Foreign Affairs. January/February 2015.
Excerpt: The Austrian economist Joseph Schumpeter put entrepreneurs at the center of his model of capitalism. Innovation was crucial to dynamism and growth, he argued, and entrepreneurs were the ones who made innovation happen. The “new… More

What Exactly is an Entrepreneur?

– "What Exactly is an Entrepreneur?" The Economist. February 16, 2014.
Excerpt: Entrepreneurs are everybody’s favourite heroes. Politicians want to clone them. Popular television programmes such as “The Apprentice” and “Dragons’ Den” lionise them. School textbooks praise them. When the author… More

Schumpeter Got Innovation Wrong, and Other Myth-Busting Ideas from a Nobel Prize Economist

– Bowyer, Jerry and Edmund S. Phelps. "Schumpeter Got Innovation Wrong, and Other Myth-Busting Ideas from a Nobel Prize Economist." Forbes. January 20, 2014.
Excerpt: Edmund, Ned, Phelps certainly did not need to write Mass Flourishing: How Grassroots Innovation Created Jobs, Challenge, and Change to make a name for himself. His work on labor market economics was both solid and itself innovative enough to earn him… More

Joseph A. Schumpeter

– Medearis, John. Joseph A. Schumpeter. London: Bloomsbury Academic, 2013.
From Amazon: Joseph Schumpeter (1883-1950) was one of the foremost economic thinkers of the twentieth century. Today Schumpeter is most well-known for his idea of “creative destruction.” This is the notion that a market economy is simultaneously… More

Joseph A. Schumpeter: Historian of Economics: Perspectives on the History of Economic Thought

– Moss, Laurence S. (ed.). Joseph A. Schumpeter: Historian of Economics: Perspectives on the History of Economic Thought. London: Routledge, 2013.
From Amazon: Joseph A. Schumpeter was one of the great economists of the twentieth century. His History of Economic Analysis is perhaps the greatest contribution to the history of economics, providing a magisterial account of the development of the subject… More

Schumpeter in the White House

– Sorman, Guy. "Schumpeter in the White House." City Journal. Spring 2012.
Excerpt: The 2012 presidential race will be, in part, a showdown between two different models of economic growth. President Barack Obama and his Democratic administration will defend the once-discredited and now-resurgent theory that government must act as… More

Keynes, Schumpeter and the Great Post-War Mistake

– Nasar, Sylvia. "Keynes, Schumpeter and the Great Post-War Mistake." Bloomberg. September 8, 2011.
Excerpt: In January 1919, as the Allied leaders met in Paris to hammer out a treaty ending World War I, famine and pestilence raged from St. Petersburg to Istanbul. To the Britons and Americans who came to survey the damage, the whole continent seemed to be… More

Schumpeter’s Moment

– Schramm, Carl. "Schumpeter's Moment." The Wall Street Journal Europe. May 29, 2009.
Excerpt: We continue to be in the middle of a frightening economic drama, one that is putting the core tenets of modern capitalism at the center of the global debate. That is an important debate to have, considering that the fundamental assumptions of modern… More

Joseph Schumpeter and the German Historical School

– Michaelides, Panayotis G. and John G. Milios. "Joseph Schumpeter and the German Historical School." Cambridge Journal of Economics.  Vol. 33, No. 3. May 2009.
Abstract: So far Schumpeter’s affinities with the German Historical School (GHS) have been inadequately acknowledged or even unexplored in major accounts of Schumpeter’s work. This essay argues that Schumpeter’s principal theses are… More

Prophet of Innovation: Joseph Schumpeter and Creative Destruction

– McCraw, Thomas K. Prophet of Innovation: Joseph Schumpeter and Creative Destruction. Cambridge, Massachusetts: Harvard University Press, 2007.
From The New Yorker: In 1939, the economist Joseph Schumpeter wrote that “the history of capitalism is studded with violent bursts and catastrophes” that, while ultimately bettering society, seem “like a series of explosions.” He… More
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Essays

Economic Theory and Entrepreneurial History

– "Economic Theory and Entrepreneurial History." In Wohl, R. R., Change and the Entrepreneur: Postulates and the Patterns for Entrepreneurial History. Cambridge, Massachusetts: Harvard University Press, 1949.

There is Still Time to Stop Inflation

– "There is Still Time to Stop Inflation." (1948). In Schumpeter, Joseph. Richard V. Clemence (ed.), Essays: On Entrepreneurs, Innovations, Business cycles, and the Evolution of Capitalism, Volume 1. New Brunswick, New Jersey, Transaction, 2009, 241-252.

Capitalism

– "Capitalism." In Beto, William (ed.), Encyclopædia Britannica. Chicago: University of Chicago Press, 1946.

Professor Taussig on Wages and Capital

– "Professor Taussig on Wages and Capital." In Taussig, Frank W., Explorations in Economics: Notes and Essays Contributed in Honor of F.W. Taussig. New York: McGraw-Hill, 1936, 213-222.

Max Weber’s Work

– "Max Weber's Work." (1920). In Swedberg, Richard (ed.), The Economics and Sociology of Capitalism. Princeton, New Jersey: Princeton University Press, 1991, 220-229.

The Crisis of the Tax State

– "The Crisis of the Tax State." (1908). In Swedberg, Richard (ed.), The Economics and Sociology of Capitalism. Princeton, New Jersey: Princeton University Press, 1991, 99-140.

Multimedia

The Austrian Tradition in Economics (with Peter J. Boettke)

– Boettke, Peter J. "The Austrian Tradition in Economics (with Peter J. Boettke)." Cato Institute. 2015.
From YouTube: Peter J. Boettke traces the Austrian School’s history from Carl Menger through Eugen Böhm-Bawerk and Joseph Schumpeter, Ludwig von Mises, Friedrich Hayek, and Murray Rothbard to contemporary economists such as Israel Kirzner, Vernon… More

Joseph Schumpeter: Economic Growth and Creative Destruction

– Kiesling, Lynne. "Joseph Schumpeter: Economic Growth and Creative Destruction." Northwestern University. 2014.
Joseph Schumpeter was an inconoclastic economist who was influential well beyond his reputation. From his education and original academic and civil service work in Austria, Schumpeter went on to a long, productive career exploring the causes of economic… More

Creative Destruction

– Coelho, Philip. "Creative Destruction." Econ In Motion. February 24, 2014.
Professor Philip Coelho of Ball State University explains “creative destruction,” the notion that economic cycles occur within capitalism as technology evolves over time. While this process does not always benefit everyone, it is an essential… More

Joseph Schumpeter

– Cowen, Tyler and Alex Tabarrok. "Joseph Schumpeter." Mercatus Center. October 4, 2012.
Mercatus Center examines Joseph Schumpeter, one of the deepest and most broadly read economists, ever. A splendid horseman too.

INSEAD Alumni Monisha Varadan (’10D) and Joachim Vandaele (’10D) on Entrepreneurship

– Varadan, Monisha and Joachim Vandaele. "INSEAD Alumni Monisha Varadan ('10D) and Joachim Vandaele ('10D) on Entrepreneurship." INSEAD. 2012.
From YouTube: The field of entrepreneurship owes a great deal to Joseph Schumpeter. He argued that innovation and technological change come from the “entrepreneur-spirit.” But is that spirit something that can be taught in business schools?

Joseph Schumpeter and Hayek – Keynes’ Challengers

– Nasar, Sylvia and Robert Johnson. "Joseph Schumpeter and Hayek - Keynes' Challengers." Institute for New Economic Thinking. February 7, 2012.
In part 4 of this INET interview, Sylvia Nasar discusses how Joseph Schumpeter and Friedrich von Hayek challenged the economics of Keynes in the early-to-mid 20th century. However, their work fell in the face of empirical evidence, while the work of Keynes… More

Giovanni Dosi: Combining Schumpeter and Keynes to Boost Innovation

– Dosi, Giovanni. "Giovanni Dosi: Combining Schumpeter and Keynes to Boost Innovation." Institute for New Economic Thinking. 2011.
From YouTube: Many people would not think of putting Joseph Schumpeter and John Maynard Keynes in the same economic framework, but Giovanni Dosi believes the insights of both are needed to fully understand how to boost innovation in an economy. Dosi, director… More

Karl Marx, Joseph Schumpeter, and an Economic System Incapable of Coming to Rest

– Rae, Douglas W. "Karl Marx, Joseph Schumpeter, and an Economic System Incapable of Coming to Rest." "Capitalism: Success, Crisis and Reform (PLSC 270)." Yale University. March 31, 2011.
Professor Rae relates Marxist theories of monopoly capitalism to Schumpeter’s theory of creative destruction. Both Marx and Schumpeter agree that capitalism is a system that is “incapable of standing still,” and is always revising (or… More
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