*  *  *  Ladies and Gentlemen, Here in Vienna, exactly one hundred years ago, Joseph Schumpeter embarked upon his university studies at the School of Law and Political Science. He was a promising young student with ambitions in academics, politics and business.
Already, at the age of 22, he had published his first works and would soon become one of the youngest holders of a doctorate, the youngest private teacher and the youngest professor in Austria. Joseph Schumpeter has become known as one of the foremost representatives of the famous Austrian School of Economics.