This Chronicle piece is interesting, though I think a bit revisionist. Was Schumpeter's concern that, "Capitalism, however, inevitably generates these mammoth inequalities through creative destruction. ... He did not think governments could maintain enough social insurance to counter the destructive part of capitalism without strangling the sources of rapid growth." Or was it that those in positions to influence the referee that Delong sees as essential would fix the rules in ways to inhibit farther innovation?

Nice quote: [I]f Keynes was the most important economist of the 20th century, then Schumpeter may well be the most important of the 21st."