The translation of these essays is a testimony to Professor Schumpeter's power in the analysis of economic thinking' The Financial Times.This classic book is divided into four sections. The first gives a broad survey of economic thought from the days of Aristotle to the beginnings of modern times, and the second traces the development of the conception of the circular flow of economic forces. The third and fourth sections cover the main theorems of the classical economists and describe the genesis of the school of marginal utility.
People know Moravian-born Joseph Alois Schumpeter, an American, for his theories of socioeconomic evolution and the development of capitalism.
This political scientist briefly served as finance minister of Austria in 1919. Of the 20th century, the most influential Schumpeter popularized the term "creative destruction."