Thomas K. McCraw
How Alexander Hamilton and a Swiss anti-Federalist created our country's capitalist system.
Prophet of Innovation: Joseph Schumpeter and Creative DestructionBy Thomas K. McCraw (Harvard University Press, 719 pp., $35) I KNEW Joseph Schumpeter only in the last five years of his life, from 1945 until his death in 1950, at the age of sixty-six. To say that I knew him is actually a bit of an exaggeration. First as a returning undergraduate and then as a doctoral student in economics at Harvard, I attended his courses on advanced economic theory andthe history of economic thought. The theory lectures bordered onincoherent; they alluded to everything but analyzed nothing.