For anyone who’s interested, McCraw’s bio of Schumpeter will be the main item for your delectation on LNL tonight. Here’s a review I’ve not read yet.
‘Prophet of Innovation: Joseph A Schumpeter and Creative Destruction’: Phillip talks to Harvard Business historian Thomas McCraw about his new biography looking at the extraordinary personal life and lasting professional legacy of one of the most influential scholars on capitalism.
Odd looking bird isn’t he? And he certainly had an interesting life – even if his History of Economic Analysis runs on rather.
Looks like B. A. Santamaria’s second cousin.
Nicholas Gruen:
Listening to Philip Adam’s Late Night Live right now. Damned interesting.
It will be rebroadcast after the 4pm news on Radio National tomorrow [Thursday] in eastern Australia [not sure of times in SA, NT, WA or at the new concentration camp for politicals on Christmas Island]. Anyway, it’s podcast” http://www.abc.net.au , go to Radio National and follow the links.
Thanks for that tip, Nicholas. It was interesting, but the questions were a bit disappointing. Schumpeter’s theory of cycles, his theory of profit, his role as a forerunner of evolutionary economics — none of these were touched on. A listener who didn’t know anything about the subject might come away thinking: so Schumpeter highglighted the entrepreneur — big deal! Economics really isn’t Philip’s strong suit.
Yes, I agree James.
There were other things too. The way in which Schumpeter argued that capitalism would collapse into corporatism and if I recall correctly a kind of triumph of the engineer not unlike Veblin and much art deco art of the time – with muscular men and engineers heralding forth the future.
Hayek was dead right about what a blind alley that kind of sensibility was.
Did we hear that he was the Austrian Minister for Finance in around 1919? If so it must have been pretty quick because I missed it.