Famous Economists - List & Biographies of World Famous Economists

Birthdate: February 8, 1883

Sun Sign: Aquarius

Birthplace: Třešť, Czechia

Died: January 8, 1950

Business students remember Austrian economist and sociologist Joseph Schumpeter for his contribution to the concepts of entrepreneurship, creative destruction, and business cycles. An academic, who had also taught at Harvard, Schumpeter believed capitalism would someday automatically give way to socialism, a thought he expressed in Capitalism, Socialism, and Democracy.