Joseph A. Schumpeter (1883-1950). Originally born in Moravia in the present-day Czech Republic, Schumpeter was a renowned economist, business theorist and political scientist, famous for coining the term 'creative destruction'. He was for many years Professor of Economics at Harvard University and numbered among his pupils Robert Solow, the Nobel Laureate, and former chairman of the Federal Reserve Alan Greenspan. He is the author of Capitalism, Socialism and Democracy, also published in Routledge Classics.