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Is this what Schumpeter called the “Cycle of Innovation"?, page-14

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tigmeister

13,701 Posts.

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22/09/17

22:57

Post #: 27408711
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Originally posted by Winfield ↑

I had never heard of this Schumpeter guy before I just saw that article.....A little search on the Wiki.....turns out he was one of the good guys!

"Schumpeter also became known for his opposition to Marxism and socialism that he thought would lead to dictatorship, and even criticized President Franklin Roosevelt's New Deal.^[10] In 1939, Schumpeter became a US citizen. In the beginning of World War II, the FBI investigated him and his wife (a prominent scholar of Japanese economics) for pro-Nazi leanings, but found no evidence of Nazi sympathies.^[11]^[12]"

^{(I certainly hoped I was not posting Commie clap trap!!)}

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...and then reality struck, when the Germans moved into Poland.

Keynes was the same, an opponent of Marxism, trying to find a cure for capitalism.
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