Schumpeter and Talcott Parsons

This article looks at the relationship between Joseph Schumpeter and sociologist Talcott Parsons. The two met in the late 1920s at Harvard University, where both were teaching. At the time Parsons was a young instructor, while Schumpeter was an established economist; and as a result Schumpeter influenced Parsons much more than the other way around. Parsons especially appreciated Schumpeter’s view of economic theory. Their relationship continued in this way, with Schumpeter mainly influencing Parsons even if he also could keep an eye on what was happening in sociologythrough Parsons.