Joseph Schumpeter on Competition and Alcoa

Take that, Learned Hand.

I wrote approximately 100 biographies of famous economists for my Concise Encyclopedia of Economics, which is online at Liberty Fund’s site here. One of my favorite bios to research and write was that of Joseph Schumpeter. You can find it here.

My favorite book by Schumpeter is Capitalism, Socialism, and Democracy. It’s in that book that he introduces t…