Something I didn't know about Schumpeter
At his first academic job in 1909 he fought a literal duel with swords against, of all people, the librarian, because he wouldn’t make books available to his students. The librarian got an honorable scar out of it, and the two became the best of friends.
Deirdre McCloskey has more on Schumpeter, Galbraith, and the importance of rhetoric. There's also more than a grain of truth in this statement:
“The emotional attachment to the social order,” wrote [Schumpeter], was “the very thing capitalism is constitutionally unable to produce.” No one loves a Rockefeller. Everyone loves a Virgin Queen.
Tip of the hat to Greg Mankiw.
