Schumpeter was president of the American Economic Association in 1948.ĭavid R. In that same year he accepted a permanent position at Harvard, where he remained until his retirement in 1949.
With the rise of Hitler, Schumpeter left Europe and the University of Bonn, where he was a professor from 1925 until 1932, and emigrated to the United States. In 1911 Schumpeter took a professorship in economics at the University of Graz. He was one of the more promising students of Friedrich von Wieser and Eugen von Böhm-Bawerk, publishing at the age of twenty-eight his famous Theory of Economic Development.
Born in Austria to parents who owned a textile factory, Schumpeter was very familiar with business when he entered the University of Vienna to study economics and law.
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