Schumpeter´s Enduring Legacy.
For many left-wing intellectuals, especially in Britain and the United States, J.A.Schumpeter was a Harvard economist who criticized Marx, did not agree much with Keynes and was fond of horses.
For most Europeans, however, especially German social scientists, J.A.Schumpeter is one of the founders of economic sociology, as well as one of the most brilliant economists of the 20th century. But Schumpeter's most lasting contribution to economic theory and analysis lies in the creation of an analytical model unrivalled to date which can be employed to credibly explain the inner workings of modern economies.
For many left-wing intellectuals, especially in Britain and the United States, J.A.Schumpeter was a Harvard economist who criticized Marx, did not agree much with Keynes and was fond of horses.
For most Europeans, however, especially German social scientists, J.A.Schumpeter is one of the founders of economic sociology, as well as one of the most brilliant economists of the 20th century. But Schumpeter's most lasting contribution to economic theory and analysis lies in the creation of an analytical model unrivalled to date which can be employed to credibly explain the inner workings of modern economies.
