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![]() ![]() ![]() ![]() In politics, Schumpeter was a liberal conservative - or perhaps a conservative liberal - but he was also deeply influenced by his Marxian contemporaries. A phrase Schumpeter coined to describe the essence of capitalism as he understood it, “creative destruction,” has become one of the most familiar terms in the economic lexicon. He published prolifically in both German and English on questions of economic theory, economic sociology, economic and social policy, and the history of ideas. Joseph Alois Schumpeter was one of the most prominent political economists during the first half of the twentieth century. ![]()
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