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FDR Turned Schumpeter into a Fan of Ludwig von Mises


From McCraw writing about Schumpeter:

(pp. 318-319) The New Deal struck him as still another prelude to authoritarianism. He became convinced that Roosevelt's program represented a step toward either fascism or socialism, and in either case potential dictatorship. He wrote a friend that Roosevelt was like a child mindlessly breaking a machine because he didn't understand its design. The president "is going to turn me into a fan of [Ludwig von] Mises," his classmate at the University of Vienna who had become a free-market fundamentalist and an opponent of almost all government intervention.


Source:

McCraw, Thomas K. Prophet of Innovation: Joseph Schumpeter and Creative Destruction. Cambridge, Mass.: Belknap Press, 2007.




Comments

That is rich. Reading your blog has turned me into a fan of Schumpeter. Previously, I equated creative destruction with Mikhail Bakunin.

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