Schumpeter’s theoretical positions in the early 1920s and his projects as a banker and venture investor

We discuss Joseph A. Schumpeter’s projects as a banker and venture investor in the early 1920s as serious attempts to put his theoretical ideas into practice. This approach differs from the older literature, in which the prevailing view was that he merely wanted to exploit the speculative opportunities after the First World War. To begin with, we examine the often neglected monetary aspects of his theory of economic development, the state of his ideas on entrepreneurship at the time and his time-specific positions on economic recovery after the war. We then go on to trace his theoretical positions in the plans and designs of his business ventures. Finally, we reflect on the extent to which these contributed to the purpose and failure of his ventures under the specific conditions of the time