Together with John Maynard Keynes and Milton Friedman, Joseph Schumpeter is regarded as one of the three greatest economists of the 20th century. And yet, his actual economic writing has remained something of an enigma. Capitalism, Socialism, and Democracy, his best-known work, was also an unscientific throw-off in his view. His major economic works - The Theory of Economic Development and Business Cycles - have been misunderstood and underappreciated. What has not been realized is that key elements of the Schumpeterian system have hitherto gone missing. Clues to that system were contained in...