Schumpeter was born in Austria and studied under Menger’s students, Wieser and Böhm-Bawerk. He came to America in 1932 and taught at Harvard until his death in 1950. From his first years in economics, Schumpeter had a natural inclination toward economics’ larger issues, showing little interest in making minor additions to accepted theory. He also admits to having been strongly influenced by Marx. Admiring Marx’s scholarship, he attempted to understand what Marx was saying about the development of capitalism. In his own work, nevertheless, Schumpeter forcefully rejected what he regarded as the ideological elements in Marxian analysis. Politically, Schumpeter was a conservative; so whereas Marx regarded evolving capitalism with disdain, Schumpeter praised it and mourned its eventual demise, which like Marx he envisioned.