Origins & Early Life

Joseph Alois Schumpeter (German: [ˈʃʊmpeːtɐ]; February 8, 1883 – January 8, 1950) was an Austrian political economist. He served briefly as Finance Minister of Austria in 1919. In 1932, he emigrated to the United States to become a professor at Harvard University, where he remained until the end of his career, and in 1939 obtained American citizenship. Schumpeter was one of the most influential economists of the early 20th century, and popularized creative destruction, a term coined by Werner Sombart.

Pivotal Works & Achievements

His magnum opus is considered to be Capitalism, Socialism and Democracy. Schumpeter was born in 1883 in Triesch, Habsburg Moravia (now Třešť in the Czech Republic, then part of Austria-Hungary), to German-speaking Catholic parents. Though both of his grandmothers were Czech, Schumpeter did not acknowledge his Czech ancestry. His father, who owned a factory, died when Joseph was only four years old. In 1893, Joseph and his mother moved to Vienna.

Enduring Legacy & Impact

Schumpeter was a loyal supporter of Emperor Franz Joseph I. Schumpeter was educated at the Theresianum and began his career studying law at the University of Vienna under Eugen von Böhm-Bawerk, an economic theorist...

Contemporary Figures & Related Historical Timelines

• A. S. Neill — Contemporary (Born in 1883) (1883): Scottish progressive educator, founder of Summerhill, championing self-governance.
• Alan Brooke, 1st Viscount Alanbrooke — Contemporary (Born in 1883) (1883): British Field Marshal and Chief of the Imperial General Staff during WWII.
• Alexander Gettler — Contemporary (Born in 1883) (1883): Pioneering American forensic toxicologist and father of modern medicolegal investigation.
• Alan Silvestri — Contemporary (Born in 1950) (1950): Award-winning composer renowned for epic film scores, especially for blockbuster franchises.
• Alec Jeffreys — Contemporary (Born in 1950) (1950): Pioneering geneticist known for developing DNA fingerprinting and profiling techniques.
• Arthur D. Levinson — Contemporary (Born in 1950) (1950): Prominent American businessman, former CEO of Genentech, and board member for Apple Inc.
• Amelia Bence — Shared historical date (02-08 · Died) (2016): Argentine film actress, a celebrated diva of the Golden Age of Argentine cinema.
• Baldassare Castiglione — Shared historical date (02-08 · Died) (1529): Influential Renaissance author and courtier, known for 'The Book of the Courtier'.
• Alexander Prokhorov — Shared historical date (01-08 · Died) (2002): Soviet physicist known for fundamental work on optics, leading to the laser and maser.
• Alfred Russel Wallace — Shared historical date (01-08 · Born) (1823): Naturalist and explorer who independently conceived the theory of evolution.
• 1883 Historical Timeline & Archive — Explore world events and figures from 1883
• February 8 (02-08) On This Day — Historical birthdays and events on February 8
• 1950 Historical Timeline & Archive — Explore world events and figures from 1950
• January 8 (01-08) On This Day — Historical events and memorials on January 8