He had three goals in life: to be the greatest economist in the world, the greatest horseman in Austria and the greatest lover in Vienna. He claimed to have achieved two of these aims, although he never specified which. I wouldn’t wish to speculate about Schumpeter’s abilities as a horseman or a lover. But he certainly was an outstanding economist. 2.
Banks, real economy and the no bail-out principle  And as an economist, Joseph Schumpeter had clear ideas about the role of banks. He viewed them mainly as partners and supporters of enterprises in the real economy. I believe that cooperative banks also see themselves in that role.