Exploring the unique perspectives of Schumpeter within Austrian economics, tracing his influences, contrasts with Mises, and the impact of a seminar with varied ideological voices on his career.
Thomas McCraw of Harvard University talks about the ideas of Joseph Schumpeter from his book, Prophet of Innovation: Joseph Schumpeter and Creative Destruction. McCraw and EconTalk host Russ Roberts discuss innovation, business strategy, the role of mathematics in economics, and Schumpeter's vision of competition embodied in his most important idea--creative destruction.