Journal of Economic Literature
Book Reviews
2026-08-28
David B. Audretsch of Max Planck Institute of Economics reviews “Prophet of Innovation: Joseph Schumpeter and Creative Destruction” by Thomas K. McCraw,. The EconLit Abstract of the reviewed work begins “Presents a biography of Joseph Alois Schumpeter (1883-1950), focusing on his relationship with capitalist innovation. Concentrates on l'enfant terrible, 1883-1926--innovation and economics; the adult, 1926-39--capitalism and society; and the sage, 1939-50--innovation, capitalism, and history. McCraw is Straus Professor of Business History Emeritus at Harvard Business School. Index.”