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The author puts this book in the best possible context by referring to the "magisterial and paradoxical Dr. Schumpeter." A figure in a rare class with John Maynard Keynes, Friedrich von Hayek, and Alfred Marshall, the work of Joseph Schumpeter is equalled only in monumental significance by his personal trials and tribulations. The work is divided into two volumes - the first covering his career in Europe and the second his life and achievements in America.

Walt Rostow, in his Foreword, sums up Robert Loring Allen's achievement in biography and intellectual history thus: "In dealing...