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| EST. READ TIME 1 MIN.20th century economist Joseph Schumpeter’s ideas can help Canada recover from recession
The Essential Joseph Schumpeter
The Essential Joseph Schumpeter is a new book, accompanying website and animated video series that explores the key ideas of the most accomplished economists of the 20th century. In particular, it spotlights Schumpeter’s insights on entrepreneurship, innovation, competition and government.
Published by the Fraser Institute and co-authored by the Institute’s Jason Clemens and Russell S. Sobel of The Citadel, the book provides an accessible overview of Schumpeter’s insights on entrepreneurship, innovation, competition and government.
Perhaps best known for popularizing the term “creative destruction”—the process where new innovations arise and cause the old way of doing things to disappear—Schumpeter has had a lasting influence on the way economists view entrepreneurship, innovation and economic progress.
Born in 1883 outside Prague in what’s now the Czech Republic, Schumpeter was not a life-long academic. Having also worked in law and finance—and even serving as Austria’s Minister of Finance—Schumpeter returned to academia at Harvard University in the 1930s and was ultimately elected president of the American Economics Association, the first foreign-born economist to hold that title.
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Russell S. Sobel
Professor of Economics & Entrepreneurship, Baker School of Business at The CitadelRussell S. Sobel is Professor of Economics & Entrepreneurship in the Baker School of Business at The Citadel in hishometown of Charleston, South Carolina. He received his Ph.D. in economics from Florida State University in 1994. He is co-editor of the Southern Economic Journal and is a member of the editorial boards for the journals Public Choice and the Journal of Entrepreneurship & Public Policy. He serves as a Regional Advisory Committee Member for the South Carolina Revenue and Fiscal Affairs Office Board of Economic Advisors. He is the recipient of numerous awards for both his teaching and research including the Kenneth G. Elzinga Distinguished Teaching Award from the Southern Economic Association, the Georgescu-Roegen Prize for Best Article of the Year in the Southern Economic Journal, the Association of Private Enterprise Education Distinguished Scholar Award, and the Sir Antony Fisher International Memorial Award for his book Unleashing Capitalism. He has produced over two dozen Ph.D. students, most of which have gone on to pursue distinguished academic careers. He is the author or coauthor of over 250 academic journal articles and books including Growth and Variability in State Tax Revenue: An Anatomy of State Fiscal Crises, The Rule of Law, Unleashing Capitalism, and The Essential Joseph Schumpeter. His publications have appeared in a wide variety of academic journals including the Journal of Political Economy, Journal of Law and Economics, Public Choice, Journal of Business Venturing, Small Business Economics, and Economic Inquiry. His research has been featured in many leading news outlets including the New York Times, Wall Street Journal, Washington Post, U.S. News and World Report, Investor’s Business Daily, The Economist Magazine, The Financial Post, CNBC, and the CBS Evening News. His current recent research focuses on the intersection of entrepreneurship and economic policy.… Read more -
Jason Clemens
Executive Vice President, Fraser Institute