He also argued that government should not try to break up monopolies, and that, in fact, a monopoly was likely to call into existence the very forces of competition that would replace it.  
After practicing law and teaching at the University of Graz and at Bonn, he emigrated to America in 1932 and became a professor at Harvard. His major contributions to economics were the theory of the entrepreneur as the dynamic factor in the business cycle and the theory of the economic development of Capitalism.  He also argued that government should not try to break up monopolies, and that, in fact, a monopoly was likely to call into existence the very forces of competition that would replace it.  FTP name this Austrian-American who created that dynamic, which is labeled the "process of creative destruction".
After practicing law and teaching at the University of Graz and at Bonn, he emigrated to America in 1932 and became a professor at Harvard.
Joseph Schumpeter