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Joseph Schumpeter. Joseph Alois Schumpeter, a renowned Austrian-American Economist and Political Scientist, was born on February 8, 1883, in Triesch, Moravia. His father owned a textile factory and he was an only child. His father passed away when he was young, and his mother remarried to a high-ranking officer in the Austro-Hungarian army.

The Currency vs. Banking School Controversy Liquidity scrambles, monetary substitutability and elasticity

Recently the Polish sociologist Krzystof Wielicki has made a case for regarding the democracies of the world as in a civilizational crisis. Somewhat less recently, Susan Strange of the London School of Economics proposed the idea that in our times a global business civilization shapes both democ

Signature. Alice O'Connor (born Alisa Zinovyevna Rosenbaum; [c] February 2 [ O.S. January 20], 1905 – March 6, 1982), better known by her pen name Ayn Rand ( / aɪn / ), was a Russian-born American writer and philosopher. [3] She is known for her fiction and for developing a philosophical system she named Objectivism.

The idea of contested monopolies being good for innovation was first proposed by Joseph Schumpeter in 1942. Perhaps, it is in disuse owing to the difficulties in measuring or assessing the extent of contestability in a market. Nonetheless, it is feasible.