Birthdate: February 8, 1883
Sun Sign: Aquarius
Birthplace: Třešť, Czechia
Died: January 8, 1950
Business students remember Austrian economist and sociologist Joseph Schumpeter for his contribution to the concepts of entrepreneurship, creative destruction, and business cycles. An academic, who had also taught at Harvard, Schumpeter believed capitalism would someday automatically give way to socialism, a thought he expressed in Capitalism, Socialism, and Democracy.
