Munich Personal RePEc Archive

The Schumpeter Legacy

Accolley, Delali (2011): The Schumpeter Legacy.


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This is a biography of Joseph Alois Schumpeter, the father of both the concept of creative destruction and the elite theory of democracy. The influence of his works has gone beyond the Economics field. He has influenced both economists through his explanations of business cycles and innovations and Political Scientists through his theories of democracy. Recently, in the wake of the 2008 financial crisis, Schumpeter's thesis on the self-destruction of capitalism has been revisited by economists.

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