Joseph Schumpeter
Read this biographical article about Joseph Schumpeter. It gives some interesting context to his innovations in economic thought, which were largely eclipsed by the rise of Keynesian economics.
Work
Schumpeter's major work and influence in macroeconomic thinking are revealed in the following assessment:
Adam Smith, make room: Joseph Schumpeter has come to Washington. Capital policy chiefs may not yet be wearing Schumpeter ties, but the Harvard economist's ideas are cited by everyone from former Federal Reserve chief Alan Greenspan to the warring parties in the Microsoft antitrust case… Schumpeter argued that capitalism exists in the state of ferment he dubbed "creative destruction," with spurts of innovation destroying established enterprises and yielding new ones. This view seems far more current than Smith's Newtonian notion of an "invisible hand" generating stability in the marketplace.