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Prophet of Innovation

Author : Thomas K. McCraw
Publisher : Harvard University Press
ISBN 13 : 0674736966
Total Pages : 734 pages
Book Rating : 4.6/5 (747 download)

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Book Synopsis Prophet of Innovation by : Thomas K. McCraw

Download or read book Prophet of Innovation written by Thomas K. McCraw and published by Harvard University Press. This book was released on 2010-03-30 with total page 734 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pan Am, Gimbel’s, Pullman, Douglas Aircraft, Digital Equipment Corporation, British Leyland—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. “Creative destruction,” he said, is the driving force of capitalism. Described by John Kenneth Galbraith as “the most sophisticated conservative” 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 peril—to survive, they must be entrepreneurial and think strategically. Yet in Schumpeter’s view, the general prosperity produced by the “capitalist engine” 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 1983—the centennial of the birth of both men—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 Schumpeter’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 world’s greatest economist, lover, and horseman—and admitted to failure only with the horses.

Schumpeter's Vision

Author : Arnold Heertje
Publisher : Greenwood
ISBN 13 :
Total Pages : 232 pages
Book Rating : 4.3/5 (97 download)

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Book Synopsis Schumpeter's Vision by : Arnold Heertje

Download or read book Schumpeter's Vision written by Arnold Heertje and published by Greenwood. This book was released on 1981 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Praeger special studies. Praeger scientific." Includes bibliographies and index.

Capitalism, Socialism, and Democracy

Author : Joseph A. Schumpeter
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Capitalism, Socialism, and Democracy by : Joseph A. Schumpeter

Download or read book Capitalism, Socialism, and Democracy written by Joseph A. Schumpeter and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explores the relation between a socialist view of society and the democratic method of government; argues that socialism is probably inevitable, for political rather than economic reasons. The book developes five principal themes, presented in five parts. Part I, "The Marxian Doctrine," attests to Schumpeter's belief in the importance of Karl Marx's thought, and discusses Marx in the roles of prophet, sociologist, economist, and teacher. His strength lay in synthesis of history, economics, and politics into a vision and system (which Schumpeter admires) that that can be used for solving problems and contributing to knowledge and insight; the value of Marx's theories and conclusions are found wanting. Part II "Can Capitalism Survive?" shows that a socialist form of society will inevitably emerge from the inevitable decomposition of capitalist society. Essential to capitalism is the process of "creative destruction," which constantly revolutionizes the system from within; this revolutionary transformation of capitalism, which spells its doom, results from its success--not, as Marx argued, from its failure. In Schumpeter's view of capitalism, monopolistic policies promote stability and increase efficiency; unemployment and business cycles accompany economic growth; and without political interference, output would increase and standard of living increase. The entrepreneurial function, which revolutionizes production by exploiting innovation, becomes routine and obsolete due to technical development and rise of big firms; the entrepreneur becomes a bureaucrat. Without innovating enterprise, profit will vanish or become unimportant. Capitalism's success undermines the social conditions that protect it. Capitalism will not survive because public opinion will not support it: the bourgeoisie is not equipped for politics; corporate evolution and decline of the family have reduced the bourgeois sense of property and incentives; destruction of monarchy and aristocracy have deprived the bourgeois of its protectors; and disenchanted intellectuals inflame discontent with free enterprise. Establishment of socialism can be expected. Part III, "Can Socialism Work?" answers, "Of course it can." Socialism for Schumpeter is centralized control over the means of production. Necessary for the success of socialism is reaching the requisite stage of industrial development and resolution of transitional problems. The assessment of a socialist society should be based less on economic efficiency than on the quality of the bureaucratic apparatus operating the system. Socialism may likely be as successful in satisfying consumers, promoting economic progress, and enforcing discipline and efficiency. Part IV, "Socialism and Democracy" argues one can have autocratic, theocratic, or democratic socialism. Socialism's economic problem should only be discussed referring to the given state of the social environment and historical situation. Schumpeter alternatively defines democracy as people's selection of a government. Socialism may be democratic if certain conditions are met: politics must be culturally valued, range of political decisions must be fairly narrow, a well-trained bureaucracy exists, and the public exercises democratic self control. Part V, "Historical Sketch of Socialist Parties" analyzes the history of the most important socialist parties in England, Sweden, U.S., France, Germany, and Austria, emphasizing how they tried to live within the structure of a Marxist system and to remain alive and grow politically. Socialism, though, is likely to present fascist features. (TNM).

Joseph Alois Schumpeter

Author : Jürgen G. Backhaus
Publisher : Springer Science & Business Media
ISBN 13 : 0306480824
Total Pages : 356 pages
Book Rating : 4.3/5 (64 download)

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Book Synopsis Joseph Alois Schumpeter by : Jürgen G. Backhaus

Download or read book Joseph Alois Schumpeter written by Jürgen G. Backhaus and published by Springer Science & Business Media. This book was released on 2006-04-11 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: Joseph Alois Schumpeter is arguably the most important economist of the 20th century. Most readers are familiar with his Theory of Economic Development and his classic Capitalism, Socialism and Democracy. Less well-known are his seminal works published before he left Europe for the United States in 1942. In particular for the first time the missing Chapter Seven of his Theory of Economic Development has been published in this volume. It tries to put Economic Development into the broader context of culture, law and policy. Many of his earlier writings display a similar integrative approach and are therefore often treated as sociological writings. As Capitalism, Socialism and Democracy shows, he did not dissociate the different social sciences in his own mind but rather strove to keep the unity of the social sciences. Entrepreneurship, style and vision are the unifying concepts of his work.

Schumpeter’s Capitalism, Socialism and Democracy

Author : Leonardo Burlamaqui
Publisher : Routledge
ISBN 13 : 131720977X
Total Pages : 318 pages
Book Rating : 4.3/5 (172 download)

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Book Synopsis Schumpeter’s Capitalism, Socialism and Democracy by : Leonardo Burlamaqui

Download or read book Schumpeter’s Capitalism, Socialism and Democracy written by Leonardo Burlamaqui and published by Routledge. This book was released on 2018-12-19 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: 2017 marked the seventy-fifth anniversary of Schumpeter’s Capitalism, Socialism and Democracy, a work acknowledged as one of the most insightful books written in the twentieth century. It retains a contemporary quality, and still invites criticisms, new interpretations, and extensions and across disciplines. This book, in addition to re-examining Schumpeter’s seminal work and undertaking a twenty-first-century update of its main themes, brings together leading social scientists to provide contemporary amendments, extensions – or eventually refutations – of key elements of Schumpeter’s vision and thesis. Issues covered include a new take on creative destruction, the contours of a theory of innovative enterprise, finance and financialisation, a critique of the secular stagnation thesis, Schumpeter’s contributions to a theory of the entrepreneurial state, his conception of socialism and its current relevance for understanding the 'China model' as well as a rekindling of his democracy thesis for our times. Bringing together leading international contributors, this book provides fresh perspectives on ideas that continue to be hugely relevant to contemporary social sciences and a guide for understanding the current tensions among capitalism, the state and democracy. These chapters will be of interest to economists, social scientists and anyone with an interest in modern capitalism.

The Economics and Sociology of Capitalism

Author : Joseph A. Schumpeter
Publisher : Princeton University Press
ISBN 13 : 9780691003832
Total Pages : 508 pages
Book Rating : 4.0/5 (38 download)

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Book Synopsis The Economics and Sociology of Capitalism by : Joseph A. Schumpeter

Download or read book The Economics and Sociology of Capitalism written by Joseph A. Schumpeter and published by Princeton University Press. This book was released on 1991-01-21 with total page 508 pages. Available in PDF, EPUB and Kindle. Book excerpt: Joseph Schumpeter remains a highly enigmatic theorist in the history of modern economics. His contributions, however, sought unity among theoretical economics, economic sociology, history, and statistics during a time when emphasis on such matters has been decidedly losing ground within the academic profession on both sides of the Atlantic. This anthology is a timely response to the reigning orthodoxy, expecially in view of renewed interest in political economy since the 1970s. It is a superb collection of Schumpeter's essays, some of which are printed in their entirety for the first time, such as "An Economic Interpretation of Our Time," an unpublished essay which was delivered as a Lowell Lecture in 1941. The informative introduction covers the intellectual as well as personal dimensions of Schumpeter, both during his formative European period and in his fully developed but somewhat unhappy American years. ISBN 0-691-04253-5: $50.00.

Joseph Schumpeter's Two Theories of Democracy

Author : Associate Professor of Political Science John Medearis
Publisher :
ISBN 13 : 9780674186415
Total Pages : 272 pages
Book Rating : 4.1/5 (864 download)

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Book Synopsis Joseph Schumpeter's Two Theories of Democracy by : Associate Professor of Political Science John Medearis

Download or read book Joseph Schumpeter's Two Theories of Democracy written by Associate Professor of Political Science John Medearis and published by . This book was released on 2013-10 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers the first full-length treatment of Joseph Schumpeter's political thought. Schumpeter's theory of democracy as a competition among elites has influenced several generations of political scientists, but this book is the first to show that Schumpeter also conceived of democracy as a powerful transformative tendency leading toward the establishment of democratic socialism. Deploring this prospect, he theorized elite-dominated forms of society in which democratic change could be reined in. The contrasts between the two perspectives are striking. The neglected transformative view, which this book expounds, stressed the importance of democratic beliefs and ideology, whereas the elite conception minimized their significance. The transformative perspective highlighted the radicalizing, dynamic effects of movements that attempt to realize democratic values and act upon democratic ideologies, while the better-known elite model depicted democracy in static terms and as institutionally stable. Despite the sharp contrasts, both perspectives were part of Schumpeter's complex and deeply conservative response to political change in his lifetime. Precisely because he viewed democracy as a potent transformative social force, he labored strenuously to theorize a form of society in which elites could restrain the pace and nature of democratic change.

Imperialism and Social Classes

Author : Joseph A. Schumpeter
Publisher : Ludwig von Mises Institute
ISBN 13 : 161016430X
Total Pages : 194 pages
Book Rating : 4.6/5 (11 download)

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Book Synopsis Imperialism and Social Classes by : Joseph A. Schumpeter

Download or read book Imperialism and Social Classes written by Joseph A. Schumpeter and published by Ludwig von Mises Institute. This book was released on 1972 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 historical episodes. His account of the foreign policy of Imperial Rome reads like a critique of the US today. The second essay examines class mobility and political dynamics within a capitalistic society. Overall, a very important contribution to the literature of political economy.

The Entrepreneur

Author : Joseph A. Schumpeter
Publisher : Stanford Business Books
ISBN 13 : 9780804762823
Total Pages : 0 pages
Book Rating : 4.7/5 (628 download)

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Book Synopsis The Entrepreneur by : Joseph A. Schumpeter

Download or read book The Entrepreneur written by Joseph A. Schumpeter and published by Stanford Business Books. This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the first to contain all of Schumpeter's important texts on the entrepreneur and entrepreneurship in English.

Marshall and Schumpeter on Evolution

Author : Yuichi Shionoya
Publisher : Edward Elgar Publishing
ISBN 13 : 1848446160
Total Pages : 297 pages
Book Rating : 4.8/5 (484 download)

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Book Synopsis Marshall and Schumpeter on Evolution by : Yuichi Shionoya

Download or read book Marshall and Schumpeter on Evolution written by Yuichi Shionoya and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of essays offers a fresh and challenging interpretation which departs from the received views of two giants among the greatest economists of all times. Distinguished scholars of Marshall and Schumpeter engage in a lively discussion of their work and convincingly argue that, despite their differences, they shared a common drive towards a broader type of social science beyond economics. It is an intriguing account that will not fail to attract and fascinate the majority of readers. Maria Cristina Marcuzzo, Università di Roma, Italy Ever since the development of the theory of biological evolution in the middle of the nineteenth century, evolutionary doctrine has posed challenges to economics. These came directly from the work of Darwin and Huxley and indirectly through economic history and the juxtaposition of dynamics with comparative statics the approach widely adopted by economists by the end of the century. The eminent historians of economics, Yuichi Shionoya and Tamotsu Nishizawa, together with a distinguished team of specialists, have produced an important set of essays that examine the positions on evolution of Marshall and Schumpeter and the economists who surrounded them. This collection is a valuable contribution to the history of economics and is highly relevant to controversies that rage still in the economics discipline today. Craufurd Goodwin, Duke University, US Traditionally it was understood that while Marshall was the synthesizer of neoclassical economics, Schumpeter challenged the dynamic conception of the economy in place of the static structure of economics. While historians of economic thought rarely discuss the work of Alfred Marshall and Joseph Schumpeter jointly, the contributors to this book do exactly this from the perspective of evolutionary thought. This unique and original work contends that, despite the differences between Marshallian and Schumpeterian thinking, they both present formidable challenges to a broad type of social science beyond economics, particularly under the influence of the German historical school. In a departure from the received view on the nature of the works of Marshall and Schumpeter, the contributors explore their themes in terms of an evolutionary vision and method of evolution; social science and evolution; conceptions of evolution; and evolution and capitalism. This timely resource will provide a stimulus not only to Marshall and Schumpeter scholarship within the history of economic thought but also to the recent efforts of economists to explore a research field beyond mainstream equilibrium economics. It will therefore prove a fascinating read for academics, students and researchers of evolutionary and heterodox economics and historians of economic thought.

Schumpeter's Venture Money

Author : Michael Peneder
Publisher : Oxford University Press
ISBN 13 : 0192526553
Total Pages : 336 pages
Book Rating : 4.1/5 (925 download)

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Book Synopsis Schumpeter's Venture Money by : Michael Peneder

Download or read book Schumpeter's Venture Money written by Michael Peneder and published by Oxford University Press. This book was released on 2021-02-04 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Distinctively tying history with theory, political economist Joseph A. Schumpeter reached far back in time to understand what drives economic development and determines its course. Historical and empirical research provided a laboratory for learning. At the same time, he reached for a long-term vision through theoretical inspection and utmost abstraction, seeking to distil a phenomenon's essential nature and function. He believed that good theory can indicate where the economy is headed in the future. Schumpeter's attention to history and theory also informed the plan for this book. Part I trails the historical stream of financial innovations and the scholarly struggle to assimilate them in monetary thought, while Part II focuses on Schumpeter's own monetary theory. Its deliberate reconstruction from scattered sources reveals a strikingly original and still modern conception. Drawing from the detailed study of documents at various archives in Austria, Part III then concentrates on the business history of Schumpeter's failed personal endeavours in banking and as a proto-venture capitalist. Finally, Part IV casts light on the legacy of Schumpeter's monetary ideas on contemporary thought. It depicts how monetary theory initially left them behind, yet has more recently set out to return to his ideas on money, financial innovation, and growth. Overall, a surprisingly coherent picture emerges from the study of Schumpeter's neglected monetary theory, his personal history, and his intellectual legacy on the present day.

Modern Evolutionary Economics

Author : Richard R. Nelson
Publisher : Cambridge University Press
ISBN 13 : 1108660789
Total Pages : 285 pages
Book Rating : 4.1/5 (86 download)

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Book Synopsis Modern Evolutionary Economics by : Richard R. Nelson

Download or read book Modern Evolutionary Economics written by Richard R. Nelson and published by Cambridge University Press. This book was released on 2018-05-03 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: Evolutionary economics sees the economy as always in motion with change being driven largely by continuing innovation. This approach to economics, heavily influenced by the work of Joseph Schumpeter, saw a revival as an alternative way of thinking about economic advancement as a result of Richard Nelson and Sidney Winter's seminal book, An Evolutionary Theory of Economic Change, first published in 1982. In this long-awaited follow-up, Nelson is joined by leading figures in the field of evolutionary economics, reviewing in detail how this perspective has been manifest in various areas of economic inquiry where evolutionary economists have been active. Providing the perfect overview for interested economists and social scientists, readers will learn how in each of the diverse fields featured, evolutionary economics has enabled an improved understanding of how and why economic progress occurs.

Schumpeter's Vision

Author : Arnold Heertje
Publisher : Praeger
ISBN 13 : 0275906418
Total Pages : 0 pages
Book Rating : 4.2/5 (759 download)

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Book Synopsis Schumpeter's Vision by : Arnold Heertje

Download or read book Schumpeter's Vision written by Arnold Heertje and published by Praeger. This book was released on 1981-10-15 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Praeger special studies. Praeger scientific." Includes bibliographies and index.

In Defense of Monopoly

Author : Richard B. McKenzie
Publisher : University of Michigan Press
ISBN 13 : 0472901141
Total Pages : 554 pages
Book Rating : 4.4/5 (729 download)

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Book Synopsis In Defense of Monopoly by : Richard B. McKenzie

Download or read book In Defense of Monopoly written by Richard B. McKenzie and published by University of Michigan Press. This book was released on 2019-02-28 with total page 554 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Defense of Monopoly offers an unconventional but empirically grounded argument in favor of market monopolies. Authors McKenzie and Lee claim that conventional, static models exaggerate the harm done by real-world monopolies, and they show why some degree of monopoly presence is necessary to maximize the improvement of human welfare over time. Inspired by Joseph Schumpeter's suggestion that market imperfections can drive an economy's long-term progress, In Defense of Monopoly defies conventional assumptions to show readers why an economic system's failure to efficiently allocate its resources is actually a necessary precondition for maximizing the system's long-term performance: the perfectly fluid, competitive economy idealized by most economists is decidedly inferior to one characterized by market entry and exit restrictions or costs. An economy is not a board game in which players compete for a limited number of properties, nor is it much like the kind of blackboard games that economists use to develop their monopoly models. As McKenzie and Lee demonstrate, the creation of goods and services in the real world requires not only competition but the prospect of gains beyond a normal competitive rate of return.

Joseph A. Schumpeter: Historian of Economics

Author : Laurence S. Moss
Publisher : Routledge
ISBN 13 : 1134785291
Total Pages : 253 pages
Book Rating : 4.1/5 (347 download)

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Book Synopsis Joseph A. Schumpeter: Historian of Economics by : Laurence S. Moss

Download or read book Joseph A. Schumpeter: Historian of Economics written by Laurence S. Moss and published by Routledge. This book was released on 1996-07-04 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: Joseph A. Schumpeter was one of the great economists of the twentieth century. His History of Economic Analsyis is perhaps the greatest contribution to the history of economics, providing a magisterial account of the development of the subject from Ancient Greece to the mid-twentieth century. Schumpeter's views on his predecessors have proved to be

The Theory of Economic Development

Author : Joseph A. Schumpeter
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis The Theory of Economic Development by : Joseph A. Schumpeter

Download or read book The Theory of Economic Development written by Joseph A. Schumpeter and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Schumpeter first reviews the basic economic concepts that describe the recurring economic processes of a commercially organized state in which private property, division of labor, and free competition prevail. These constitute what Schumpeter calls "the circular flow of economic life," such as consumption, factors and means of production, labor, value, prices, cost, exchange, money as a circulating medium, and exchange value of money. The principal focus of the book is advancing the idea that change (economic development) is the key to explaining the features of a modern economy. Schumpeter emphasizes that his work deals with economic dynamics or economic development, not with theories of equilibrium or "circular flow" of a static economy, which have formed the basis of traditional economics. Interest, profit, productive interest, and business fluctuations, capital, credit, and entrepreneurs can better be explained by reference to processes of development. A static economy would know no productive interest, which has its source in the profits that arise from the process of development (successful execution of new combinations). The principal changes in a dynamic economy are due to technical innovations in the production process. Schumpeter elaborates on the role of credit in economic development; credit expansion affects the distribution of income and capital formation. Bank credit detaches productive resources from their place in circular flow to new productive combinations and innovations. Capitalism inherently depends upon economic progress, development, innovation, and expansive activity, which would be suppressed by inflexible monetary policy. The essence of development consists in the introduction of innovations into the system of production. This period of incorporation or adsorption is a period of readjustment, which is the essence of depression. Both profits of booms and losses from depression are part of the process of development. There is a distinction between the processes of creating a new productive apparatus and the process of merely operating it once it is created. Development is effected by the entrepreneur, who guides the diversion of the factors of production into new combinations for better use; by recasting the productive process, including the introduction of new machinery, and producing products at less expense, the entrepreneur creates a surplus, which he claims as profit. The entrepreneur requires capital, which is found in the money market, and for which the entrepreneur pays interest. The entrepreneur creates a model for others to follow, and the appearance of numerous new entrepreneurs causes depressions as the system struggles to achieve a new equilibrium. The entrepreneurial profit then vanishes in the vortex of competition; the stage is set for new combinations. Risk is not part of the entrepreneurial function; risk falls on the provider of capital. (TNM).

Opening Doors: Life and Work of Joseph Schumpeter

Author : Robert Loring Allen
Publisher : Routledge
ISBN 13 : 1351501518
Total Pages : 203 pages
Book Rating : 4.3/5 (515 download)

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Book Synopsis Opening Doors: Life and Work of Joseph Schumpeter by : Robert Loring Allen

Download or read book Opening Doors: Life and Work of Joseph Schumpeter written by Robert Loring Allen and published by Routledge. This book was released on 2017-12-02 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The author puts this book in the best possible context by referring to the ""magisterial and paradoxical Dr. Schumpeter"". A figure in a rare class with John Maynard Keynes, Friedrich von Hayek, and Alfred Marshall, the work of Joseph Schumpeter is equalled only in monumental significance by his personal trials and tribulations. The work is divided into two volumes - the first covering his career in Europe and the second his life and achievements in America.Walt Rostow, in his Foreword, sums up Robert Loring Allen's achievement in biography and intellectual history thus: ""In dealing with Schumpeter's life, Allen exhibits a rare consciousness of the extraordinary complexity and only limited penetrability of the human personality Schumpeter's closely interwoven personal and professional life unfolds, Allen develops without dogmatism a pattern of linkages for the reader to contemplate. In a splendid final passage, he provides a memorable summation.""What makes this enormous effort so successful is the linkage of the personal and the professional, the biographical with the intellectual. Indeed, it is Schumpeter's single-minded determination to explain within a single, formal theory, the dynamics of capitalism that bridges the gap in space, time, and personality. To his books The Theory of Economic Development, and Capitalism, Socialism and Democracy, both published by Transaction, is now added the specific contexts in which these and his other works were written.The author of this biography, like the subject himself, is a masterful student of the craft of economics, and its place within the larger social science contexts that Schumpeter worked. In this work, we are introduced into the main current of European and American social science alike. The title of the book, Opening Doors, derives from Schumpeter's life long aim to appeal to inquiring minds to move through such doors in an effort to create the social science of the"