James Tobin

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Discussion Paper

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Eduard Marz’s book was first published in German in 1983. I have read only his English translation, which he had completed with preliminary revisions, though not alas with final polishing, before his death in 1987. The book illuminates for us who knew him in America the intellectual and personal background of this fascinating immigrant. And not just for us, of course. World events and intellectual developments over the past two decades have heightened interest in Schumpeter not only among economists, but also among our social scientists and political philosophers. Indeed many people of all ages and all walks of life have discovered Schumpeter and think that his ideas can help them understand the world they live in.

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