Ministry of Finance (Austria) in the context of "Eugen von Bohm-Bawerk"

Joseph Alois Schumpeter (German: [ˈʃʊmpeːtɐ]; February 8, 1883 – January 8, 1950) was an Austrian political economist. He served briefly as Finance Minister of Austria in 1919. In 1932, he emigrated to the United States to become a professor at Harvard University, where he remained until the end of his career, and in 1939 obtained American citizenship.

Schumpeter was one of the most influential economists of the early 20th century, and popularized creative destruction, a term coined by Werner Sombart. His magnum opus is considered to be Capitalism, Socialism and Democracy.

Eugen Böhm Ritter von Bawerk (short form: Eugen von Böhm-Bawerk, Austrian German: [fɔn bøːm ˈbaːvɛrk]; born Eugen Böhm, 12 February 1851 – 27 August 1914) was an Austrian-school intellectual and political economist who served intermittently as the Minister of Finance of Austria between 1895 and 1904. Böhm-Bawerk is noted for the theory of Roundaboutness, which emphasizes the time intensity, not only capital intensity, of investments in capital goods to increase productivity. He advanced an interest rate theory centered on time preference. He also wrote an extensive critique of Marxism and Marx's labor theory of value.