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Schumpter is known for the phrase "creative destruction," and he lived a life with lots of both. His mother "married up" to give him access to a better education (and higher social status) in Vienna, and the boy genius made his mark there -- before failing as finance minister (politics!) in the post WWI chaos.

His life took many turns and he worked in many places. In one terrible fortnight, his life turned upside down: just as he rushed to his mother's deathbed, his [second] wife died in childbirth -- as did the child. At that moment, Schumpter's goals (to be the world's greatest horseman, lover and economist) seemed trivial.

Prophet of Innovation -- The Review