Joseph A. Schumpeter was one of the great economists of the twentieth century. His is perhaps the greatest contribution to the history of economics, providing a magisterial account of the development of the subject from Ancient Greece to the mid-twentieth century. Schumpeter's views on his predecessors have proved to be a constant source of controversy. Here individual chapters examine such disparate questions as Schumpeter's apparent disregard for the American Institutionalists, his grudging respect for Adam Smith, the perspicacity of his views of Quesnay and his preference for Walras over Pareto. Four chapters are devoted to the early Medieval schools, neglected in all of his writings. Schumpeter's magnum opus is related to the rest of his economic output, especially his views on money and on methodology. With contributions by leading historians of economics from six countries, this volume analyses Schumpeter's contribution to the history of economics, considers its lasting significance, and uses it as a benchmark to assess the current state of the field.