Joseph A. Schumpeter (1883-1950) was one of the most influential economists of the 20th Century. He was born in Trest in the former Austrian-Hungarian Empire and studied law and economics at Vienna University 1901-06. He was first affiliated with the University of Graz. After short periods as Austrian Minister of Finance (1919-20) and chief manager of an Austrian bank (1920-24), he became Professor at the University of Bonn in Germany in 1925. From 1932 up until his death in 1950, he was professor at Harvard University.
In most of his research publications, Schumpeter preferred to exceed the traditional limits of economic theory and to analyze economic phenomena in a broad historical, political, institutional and sociological framework. This broad research approach is exemplified by his by far most famous book “Capitalism, Socialism and Democracy”, which was first published in 1942 during the Second World War but reappeared in revised editions in 1946 and 1949.
The manuscript of the present book “Treatise on Money” was discovered among the papers left by Schumpeter on his death in 1950. The text revealed that he had worked on the book project “Geld und Währung” during many years. Some notes were written as early as in the late 1920s, while teaching economics at the University of Bonn.