Editing Joseph Schumpeter (section)

==Early life and education==
Schumpeter was born in 1883 in [[Triesch]], [[Habsburg Moravia]] (now [[Třešť]] in the [[Czech Republic]],<ref>{{cite web |title=Encyclopedia: Joseph Schumpeter |url= https://www.encyclopedia.com/people/social-sciences-and-law/economics-biographies/joseph-alois-schumpeter}}</ref> then part of [[Austria-Hungary]]), to [[Moravian Germans|German-speaking]] [[Catholic Church|Catholic]] parents. Though both of his grandmothers were [[Czechs|Czech]], Schumpeter did not acknowledge his Czech ancestry.<ref name="origin1">{{cite book |last=Allen |first=Robert Loring |title=Opening Doors: the Life and Work of Joseph Schumpeter: Europe (Volume 1) |year=1991 |asin=B00ZY8X8D4}}</ref> His father, who owned a factory, died when Joseph was only four years old.<ref>{{cite book |last= Reisman |first= David A. |year=2004 |title= Schumpeter's Market: Enterprise and Evolution |location= Cheltenham |publisher=Edward Elgar Publishing |page=4 |url= https://books.google.com/books?id=Cd5-_TCGx4YC&pg=PA4 |via=Google Books |access-date=July 23, 2022 |isbn= 978-1845420857 }}</ref> In 1893, Joseph and his mother moved to [[Vienna]].<ref>{{cite book |last=Shionoya |first=Yuichi |year=2007 |title= Schumpeter and the Idea of Social Science: A Metatheoretical Study |publisher=Cambridge University Press |url= https://books.google.com/books?id=4tpDcLNE1OsC&pg=PA14 |page=14 |access-date=December 19, 2019|isbn=978-0521037969 }}</ref> Schumpeter was a loyal supporter of [[Franz Joseph I of Austria]].<ref name=origin1 />

Schumpeter was educated at the [[Theresianum]] and began his career studying law at the [[University of Vienna]] under [[Eugen von Böhm-Bawerk]], an economic theorist of the [[Austrian school of economics|Austrian School]]. In 1906, he received his [[Doctorate|doctoral degree]] from the University of Vienna's faculty of law, with a specialisation in economics.<ref>{{cite web |last1=Ebeling |first1=Richard M. |title=Joseph A. Schumpeter, Outsider Looking In |url= https://www.aier.org/article/joseph-a-schumpeter-outside-looking-in/ |work=American Institute for Economic Research |date=January 13, 2020 |access-date=5 December 2023}}</ref> In 1909, after some study trips, he became a professor of economics and government at the [[Chernivtsi University|University of Czernowitz]] in modern-day [[Ukraine]]. In 1911, he joined the [[University of Graz]], where he remained until [[World War I]].

In 1913–1914, Schumpeter taught at [[Columbia University]] as an invited professor. This invitation marked, according to [[Wolfgang Stolper]], the "high point of his worldly success".<ref>{{cite book|access-date=2024-01-17|date=2019-01-15|first1=Wolfgang F.|isbn=978-0-691-19449-3|language=en|last1=Stolper|publisher=Princeton University Press|title=Joseph Alois Schumpeter: The Public Life of a Private Man|url= https://books.google.com/books?id=xah6DwAAQBAJ}}<!-- auto-translated by Module:CS1 translator --></ref> He taught [[economic theory]] and met [[Irving Fisher]] and [[Wesley Clair Mitchell]].<ref name=":1">{{cite book|access-date=2024-01-17|date=2013-05-02 |first1=Richard |isbn=978-0-7456-6870-3 |last1=Swedberg |publisher=John Wiley & Sons |title=Joseph A. Schumpeter: His Life and Work|url= https://books.google.com/books?id=ORUNAAAAQBAJ}}<!-- auto-translated by Module:CS1 translator --></ref> Columbia awarded him an honorary doctorate.<ref>{{cite book|access-date=2024-01-17|date=2017-12-02|first1=Robert Loring|isbn=978-1-351-50152-1|language=en|last1=Allen|publisher=Routledge|title=Opening Doors: Life and Work of Joseph Schumpeter: Volume 2, America |url= https://books.google.com/books?id=DFYPEAAAQBAJ}}<!-- auto-translated by Module:CS1 translator --></ref>

In 1918, Schumpeter was a member of the Socialisation Commission established by the [[Council of the People's Deputies]] in Germany.<ref>{{cite web |title=Corporate Finance Institute Joseph Schumpeter |url= https://corporatefinanceinstitute.com/resources/economics/joseph-schumpeter/}}</ref> In March 1919, he was invited to take office as Minister of Finance in the [[Republic of German-Austria]]. He proposed a capital levy as a way to tackle the war debt and opposed the socialization of the [[:de: Oesterreichisch-Alpine Montangesellschaft|Alpine Mountain]] plant.<ref>{{cite journal |last=Seidl |first=Christian |date=1994 |title=The Bauer-Schumpeter Controversy on Socialisation |journal=History of Economic Ideas |publisher=Accademia Editoriale |volume=2 |issue=2 |pages=54–67 |jstor=23722217}}</ref> In 1921, he became president of the private Biedermann Bank. He was also a board member at the Kaufmann Bank. Problems at those banks left Schumpeter in debt. His resignation was a condition of the takeover of the Biedermann Bank in September 1924.<ref>{{cite book|last=Allen|first=Robert Loring |title=Opening Doors: The Life and Work of Joseph Schumpeter|url= https://archive.org/details/openingdoorslife0000alle |url-access=registration |quote=Schumpeter Biedermann Bank |year=1991 |publisher=Transaction |pages= [https://archive.org/details/openingdoorslife0000alle/page/186 186]–189 |isbn=9781412815611 |access-date=December 19, 2019}}</ref>

From 1925 until 1932, Schumpeter held a chair at the [[University of Bonn]], Germany. He lectured at [[Harvard]] in 1927–1928 and 1930. In 1931, he was a visiting professor at the [[Hitotsubashi University|Tokyo College of Commerce]].<ref>{{cite book|url= https://books.google.com/books?id=0MOvnC7b8qsC&dq=Schumpeter+visiting+professor+at+the+Tokyo+College+of+Commerce&pg=PA5 |page=5 |title=Entrepreneurship, Competitiveness and Local Development |editor-first=Luca |editor-last=Iandoli |editor-first2=Hans |editor-last2=Landström |editor-first3= Mario |editor-last3=Raffa |date=2007 |publisher=Edward Elgar |isbn=9781847208736 |via=Google Books |access-date=December 15, 2024}}</ref> In 1932, Schumpeter moved to the United States, and soon began what would become extensive efforts to help fellow [[central Europe]]an economists displaced by [[Nazism]].<ref>McCraw, Prophet of Innovation, pp. 231–232.</ref> Schumpeter's last visit to Europe was in 1937.<ref>{{Cite journal |last=Leontief |first=Wassily |date=1950 |title=Joseph A. Schumpeter (1883-1950) |url=https://www.jstor.org/stable/1907263 |journal=Econometrica |volume=18 |issue=2 |pages=103–110 |doi=10.2307/1907263 |jstor=1907263 |issn=0012-9682}}</ref> Schumpeter also became known for his opposition to [[Marxism]], although he still believed the triumph of socialism to be inevitable in the long run.<ref>{{Cite web |title=Joseph Schumpeter and the Economics of Imperialism |url=https://jacobin.com/2022/01/joseph-schumpeter-economics-imperialism-marxism |access-date=2025-04-09 |website=jacobin.com |language=en-US}}</ref> He also criticized [[Franklin D. Roosevelt|Franklin Roosevelt's]] [[New Deal]].<ref>McCraw, pp. 317–321</ref> In 1939, Schumpeter became a [[Citizenship of the United States|US citizen]]. At the beginning of [[World War II]], the [[FBI]] investigated him and his wife, Elizabeth Boody (a prominent scholar of Japanese economics) for [[Nazi Germany|Nazi]] sympathies, but found no evidence of such leanings.<ref>{{cite book |editor-first=Luca |editor-last=Iandoli |editor-first2=Hans |editor-last2=Landström |editor-first3= Mario |editor-last3=Raffa |title=Entrepreneurship, competitiveness and local development: frontiers in European entrepreneurship research |date=2007 |publisher=Edward Elgar |isbn=9781847203274 |page=5}}</ref><ref>McCraw, pp. 337–343</ref>

At Harvard, Schumpeter was considered a memorable character, erudite, and even showy in the classroom. He became known for his heavy teaching load and his personal and painstaking interest in his students. He served as the faculty advisor of the Graduate Economics Club and organized private seminars and discussion groups.<ref>McCraw, Prophet of Innovation, pp. 210–217.</ref> Some colleagues thought his views were outdated by [[Keynesianism]], which was fashionable; others resented his criticisms, particularly of their failure to offer an assistant professorship to [[Paul Samuelson]], but recanted when they thought him likely to accept a position at [[Yale University]].<ref>McCraw, pp. 273–278, 306–3311.</ref> This period of his life was characterized by hard work and comparatively little recognition of his massive two-volume book ''Business Cycles.'' However, Schumpeter persevered, and in 1942 published what became the most popular of all his works, ''[[Capitalism, Socialism and Democracy]]'', reprinted many times and in many languages in the following decades, as well as cited thousands of times.<ref>McCraw pp. 347 et seq.</ref>