Big Black Horse and the Cherry Tree
Monday, March 9, 2009
A quote from
"Schumpeter told many that he aspired to be the greatest economist, lover, and horseman in the world — but then would add that he was having trouble with the horses."
What a man! What an amazing man! It is amazing how a single statement can say so much about the man.
Who Schempter was is explained succintly by the following extract from the article:
"... it wasn't so long ago that Keynes was out of favor. Back in 1983, the hundredth anniversary of Keynes's birth, Forbes magazine declared that it was not Keynes who knew the way, but another economist who shared the same birth year as Keynes — Joseph Schumpeter. Instead of the government intervention that Keynesians demand to prop up the economy and failed businesses of all types, Schumpeter believed that capitalism is driven by entrepreneurs whose innovations replace old worn-out business models in a process he called "creative destruction."
Source: Doug French article at http://mises.org/story/3366
posted by jusAnotherThinker at 9:44 AM
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