This book provides a unified and comprehensive analysis of the work of Joseph Alois Schumpeter (1883-1950), the world-famed economist ranked with John Maynard Keynes. Although Schumpeter is well known for his work on economic development and innovation, his aim to construct a universal social science addressing the evolution of mind and society is usually ignored. A major contribution to the history of economic thought, this book will be the standard of Schumpeter scholarship for years to come.