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To: Ilaine who wrote (195)	4/19/2001 9:24:35 AM
From: Don Lloyd	Respond to of 443

CB - cepa.newschool.edu "...In 1919, Schumpeter became the Austrian Minister of Finance - unfortuantely, presiding over the hyperinflation of the period, and thus was dismissed later that year. After a brief teaching stint at Graz, Schumpeter migrated in 1921 to the private sector and became the president of a small Viennese banking house. Ill luck dogged him: his bank collapsed in 1924. He drifted once again back into academia - taking up a teaching position at Bonn in 1925. In 1932, Schumpeter took up a position at Harvard, succeeding the Marshallian F.W. Taussig. He was joined by Alvin Hansen, Wassily Leontief, Richard Goodwin, Paul Sweezy, John Kenneth Galbraith and fellow Austrian, Gottfried Haberler. Schumpeter ruled Harvard during the period of the "depression generation" of the 1930s and 1940s - when Samuelson, Tobin, Tsuru, Heilbroner, Bergson, Metzler, etc. were his students. ..." Talk about dismal! -g- Regards, Don