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Joseph Alois Schumpeter

Joseph Alois Schumpeter (1883-1950) was an Austrian economist who advocated the view that business cycles are an integral part of the process of economic development in a capitalist economy.

Joseph Schumpeter was born in Triesch in Moravia (now Czechoslovakia) on Feb. 8, 1883, the only son of Alois Schumpeter, a clothing manufacturer who died when Joseph was 4 years old. Because of his mother's remarriage 7 years later to the commanding general of all Austrian troops in Vienna, Schumpeter was raised in the manner traditional to the Austrian aristocracy. In 1901 he graduated with high honors from the Theresianum, a school distinguished for its classical education.

From 1901 to 1906 he studied law and economics at the University of Vienna, where he attended the seminars of Eugen Philippović, Friedrich von Wieser, and Eugen Böhm-Bawerk. He received the degree of doctor of law in 1906 and spent a brief period visiting England and practicing law in Egypt. In 1909 he returned to Austria, where he accepted a professorship in economics at the University of Chernovtsy. In 1911 he joined the faculty at the University of Graz, where, except for the academic year 1913/1914, he remained until 1918. During this period he had written his first major article and three important books and had established his preeminence in economic theory.

During World War I Schumpeter took part in the intrigues to negotiate a separate peace for Austria and in putting forward proposals for economic reconstruction. In 1919 he became finance minister in the coalition government of the Austrian Republic but was forced to resign before even presenting his financial proposals to Parliament.

Next, Schumpeter became president of a private bank in Vienna which, because of economic conditions and the dishonesty of some of his associates, failed in 1924. He returned to academic life, accepting a professorship at the University of Bonn in 1925. He visited Harvard in the following year and again in 1930 and, in 1932, moved there permanently. During his years at Harvard he produced several more major books, the last of which was in rough manuscript at his death and was edited and published by his wife, Elizabeth Boody Schumpeter. Schumpeter died in his sleep, of a cerebral hemorrhage, on Jan. 8, 1950.

Schumpeter's work, published in 15 books and pamphlets, over 200 articles, book reviews, and review articles, defies classification by school of thought or by methodology. Although his Theory of Economic Development (1912) is a classic in the abstract-deductive tradition of Léon Walras and Böhm-Bawerk, many of his articles and his Business Cycles (1939) demonstrate his interest in and capacity for statistical and econometric research. Finally, his writings on socialism, Imperialism and Social Classes (1951) and Capitalism, Socialism and Democracy (1942), and on the history of economic theory, Economic Doctrine and Method (1914) and History of Economic Analysis (1954), reveal an insight into the broad sweep of sociological and historical forces on economic ideas and events that can be compared only to that of Marx.

Further Reading

Seymour E. Harris, ed., Schumpeter, Social Scientist (1951), contains a number of excellent essays about Schumpeter's life and work. Richard V. Clemence and Francis S. Doddy, The Schumpeterian System (1950), is a study of his system of economic analysis. His career is discussed briefly in Joseph Dorfman, The Economic Mind in American Civilization (5 vols., 1946-1959), and Ben B. Seligman, Main Currents in Modern Economics: Economic Thought since 1870 (1962).

Additional Sources

Allen, Robert Loring, Opening doors: the life and work of Joseph Schumpeter, New Brunswick, N.J.: Transaction Publishers, 1991.

Mearz, Eduard, Joseph Schumpeter: scholar, teacher, and politician, New Haven: Yale University Press, 1991.

Schneider, Erich, Joseph A. Schumpeter: life and work of a great social scientist, Lincoln: Bureau of Business Research, University of Nebraska-Lincoln, 1975.

Stolper, Wolfgang F., Joseph Alois Schumpeter: the public life of a private man, Princeton, N.J.: Princeton University Press, 1994.

Swedberg, Richard, Joseph A. Schumpeter: his life and work, Cambridge, UK: Polity Press, 1991.

Swedberg, Richard, Schumpeter: a biography, Princeton, N.J.:Princeton University Press, 1991.

 
 
Political Dictionary: Joseph A. Schumpeter

(1883-1950) Austrian economist, politician, banker, and horseman. Schumpeter is best known to political scientists for his Capitalism, Socialism and Democracy (1943; henceforth CS&D), the product both of his training as a theoretical economist and of his experiences of Marxist and fascist totalitarianism. Schumpeter was a respectful opponent of Marxism. He believed that most of Marxian economics was false, but that the Marxian prediction that capitalism would fall through its own contradictions might come true. In CS&D he illustrated this through the ‘hog cycle’, an example of individual farmers' rational behaviour leading to a foreseeable and undesirable outcome. However, it is the chapters of CS&D on democracy that have been most influential. Schumpeter forcefully argued that outcomes were not necessarily good just because they were reached democratically, giving examples of (near-)democracies which had persecuted Jews and burnt witches: democracy should therefore be evaluated only as a method whereby leaders acquire the power to give orders after a competitive struggle for votes. He contrasted this narrow basis for evaluation with what he misleadingly called ‘the classical method’, by which he really meant the approach of Rousseau and his followers who call (appropriately reached) democratic outcomes ‘the will of the people’.

Writing before game theory had been developed, Schumpeter was unable to give his powerful insights a shape which would have defended them against the Rousseauvian attacks they encountered in the 1960s and 1970s. But he was an important precursor of the rational-choice school of normative political theorists. See also Riker.

 
Britannica Concise Encyclopedia: Joseph Alois Schumpeter

(born Feb. 8, 1883, Triesch, Moravia — died Jan. 8, 1950, Taconic, Conn., U.S.) Moravian-U.S. economist and sociologist. Educated in Austria, he taught at several European universities before joining the faculty of Harvard University (1932 – 50). He became known for his theories of capitalist development and the business cycle. His popular book Capitalism, Socialism, and Democracy (1942) argued that capitalism would eventually perish of its own success. His posthumous History of Economic Analysis (1954) is an exhaustive study of the development of analytic methods in economics.

For more information on Joseph Alois Schumpeter, visit Britannica.com.

 
Columbia Encyclopedia: Schumpeter, Joseph Alois
(yō'zĕf ä'lōēs shʊm'pā'tər) , 1883–1950, Austrian-American economist, LL.D. Univ. of Vienna, 1906. He began practicing law but turned to teaching two years later. He was professor of economics at the Univ. of Graz from 1911 to 1914 and at Bonn from 1925 to 1932, when he went to the United States; thereafter he was professor of economics at Harvard. He served (1919–20) as Austrian minister of finance. His major contributions to economics were the theory of the entrepreneur as the dynamic factor in fostering the business cycle and the theory of economic development of capitalism. His most important books are Theory of Economic Development (1911, in German; tr. 1934), Business Cycles (1939), Capitalism, Socialism, and Democracy (1942, 3d ed. 1950), and History of Economic Analysis (1954).

Bibliography

See study ed. by S. E. Harris (1951, repr. 1969).

 
Quotes By: Joseph A. Schumpeter

Quotes:

"Democracy is a political method, that is to say, a certain type of institutional arrangement for arriving at political -- legislative and administrative -- decisions and hence incapable of being an end in itself."

"Economic progress, in capitalist society, means turmoil."

"Entrepreneurial profit is the expression of the value of what the entrepreneur contributes to production."

"It is not true that democracy will always safeguard freedom of conscience better than autocracy. Witness the most famous of all trials. Pilate was, from the standpoint of the Jews, certainly the representative of autocracy. Yet he tried to protect freedom. And he yielded to a democracy."

"The question that is so clearly in many potential parents minds: Why should we stunt our ambitions and impoverish our lives in order to be insulted and looked down upon in our old age?"

"We always plan too much and always think too little."

See more famous quotes by Joseph A. Schumpeter

 
Wikipedia: Joseph Schumpeter
Joseph Schumpeter
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Joseph Schumpeter

Joseph Alois Schumpeter (February 8, 1883 – January 8, 1950) was an Moravian-born economist and political scientist, who was Austrian and later became an American citizen.[1] He is one of the most influential economists who lived in the first half of 20th century.

Summary

Born in Triesch, Moravia (then part of Austria-Hungary, now Třešť in the Czech Republic), Schumpeter was always a brilliant student and praised by his teachers. He began his career studying Law at the University of Vienna under the great Austrian capital theorist Eugen von Böhm-Bawerk, taking his PhD in 1906. In 1909, after some study trips, he became a professor of economics and government at the University of Czernowitz (a German-language university in Austria, now in Ukraine), in 1911, at the University of Graz, where he remained until World War I. In 1919-1920, he served as the Austrian Minister of Finance, with some success, and in 1920-1924, as President of the private Biederman Bank. That bank collapsed in 1924 and left Schumpeter in bankruptcy. From 1925-1932, he held a chair at the University of Bonn, Germany. Having to leave central Europe because of the rise of the Nazis, he moved to Harvard (where he had already lectured in 1927-1928 and 1930), where he taught from 1932 to 1950. During his Harvard times, he was not generally considered to be a very good classroom teacher, but he acquired a school of loyal followers. His prestige among colleagues was likewise not very high, because his views seemed outdated and not in touch with then-fashionable Keynesianism. This period as a Harvard professor was characterized by very hard work but also by little real recognition of his core ideas.

Although Schumpeter encouraged some young mathematical economists and was even the president of the Econometric Society (1940-41), Schumpeter was not a mathematician but rather an economist and tried instead to integrate sociological understanding into his economic theories. From current thought it has been argued that Schumpeter's ideas on business cycles and economic development could not be captured in the mathematics of his day - they need the language of non-linear dynamical systems to be partially formalized.

Most important work

The history of economic analysis

Schumpeter's vast erudition is apparent in his posthumous History of Economic Analysis, although some of his judgments seem quite idiosyncratic and sometimes cavalier. For instance, Schumpeter thought that the greatest 18th century economist was Turgot, not Adam Smith, as many consider. Schumpeter criticized John Maynard Keynes and David Ricardo for the "Ricardian vice." According to Schumpeter, Ricardo and Keynes reasoned in terms of abstract models, where they would freeze all but a few variables. Then they could argue that one caused the other in a simple monotonic fashion. This led to the belief that one could easily deduce policy conclusions directly from a highly abstract theoretical model.

Business cycles

Schumpeter's relationships with the ideas of other economists were quite complex in his most important contributions to economic analysis - the theory of business cycles and development. Following neither Walras nor Keynes, Schumpeter starts in The Theory of Economic Development with a treatise of circular flow which, excluding any innovations and innovative activities, leads to a stationary state. The stationary state is, according to Schumpeter, described by Walrasian equilibrium. The hero of his story, though, is, in fine Austrian fashion, the entrepreneur.

The entrepreneur disturbs this equilibrium and is the cause of economic development, which proceeds in cyclic fashion along several time scales. In fashioning this theory connecting innovations, cycles, and development, Schumpeter kept alive the Russian Nikolai Kondratiev's ideas on 50-year cycles, Kondratiev waves.

Schumpeter suggested a model in which the four main cycles, Kondratieff (54 years), Kuznets (18 years), Juglar (9 years) and Kitchin (about 4 years) can be added together to form a composite waveform. A Kondratieff wave could consist of three lower degree Kuznets waves. Each Kuznets wave could, itself, be made up of two Juglar waves. Similarly two (or three) Kitchin waves could form a higher degree Juglar wave. If each of these were in phase, more importantly if the downward arc of each was simultaneous so that the nadir of each was coincident it would explain disastrous slumps and consequent depressions.

Schumpeter and Keynesianism

So in Schumpeter's theory Walrasian equilibrium is not adequate to capture the key mechanisms of economic development. Schumpeter also thought that the institution enabling the entrepreneur to purchase the resources needed to realize his or her vision was a well-developed capitalist financial system, including a whole range of institutions for granting credit. One could divide economists among (1) those who emphasized "real" analysis and regarded money as merely a "veil" and (2) those who thought monetary institutions are important and money could be a separate driving force. Both Schumpeter and Keynes were among the latter. Nevertheless, Schumpeter, who was a liberal, at least in the classical European sense, rejected Keynesianism.

Schumpeter and capitalism's demise

Schumpeter's most popular book in English is probably Capitalism, Socialism and Democracy. This book opens with a treatment of Karl Marx. On the surface level, this piece seems to support socialism. Schumpeter's reasoning was that an overt defense of capitalism would prompt the book only to be read by those who already supported capitalism. Therefore, he believed that he must masquerade as a supporter of socialism to entice the young socialist to read his work. In the end, he hoped to awaken self-recognition in the reader to the flaws of socialism. [2] Schumpeter is sympathetic to Marx's conclusion that capitalism will collapse, although Schumpeter concludes capitalism will be replaced by socialism for non-Marxist reasons. It is in this book that Schumpeter characterized capitalism with the famous phrase "creative destruction," in which the old ways of doing things are endogenously destroyed and replaced by the new.

Schumpeter thinks that the success of capitalism will lead to a form of corporatism and a fostering of values that are hostile to capitalism, especially among intellectuals. The intellectual and social climate needed to allow entrepreneurship to thrive will not exist in advanced capitalism; it will be replaced by socialism in some form. There will not be a revolution, but merely a trend in parliaments to elect social democratic parties of one stripe or another. He argued that capitalism will collapse from within as democratic majorities vote for the creation of a welfare state and place restrictions upon entrepreneurship that will burden and destroy the capitalist structure. Schumpeter emphasizes that he is analyzing trends, not engaging in political advocacy. Some contend that John Kenneth Galbraith was influenced in his The New Industrial State by Schumpeter's views on corporations. In Schumpeter's vision, the class of intellectuals also contributes to the demise. The term intellectuals denotes here people who are able to express opinions on societal matters they are not directly responsible for. They can stand up for the interests of strata, that they themselves do not belong to. It is a great advantage of capitalism, that more and more people can acquire (higher) education, compared with pre-Capitalist eras, when education was a privilege of the few. The jobs of executive personnel are limited, however, and discontent rises with unemployment. The intellectuals are able to organise protest among the population and, naturally, develop critical ideas.

In Schumpeter's view, socialism would ensure a production oriented towards the needs of the people – without some problematic innate tendencies of Capitalism like conjecture fluctuation, unemployment and waning acceptance of the system.[3]

Schumpeter and democratic theory

In the same book, Schumpeter expounded a theory of democracy which sought to challenge what he called the 'classical doctrine'. He disputed the idea that democracy was a process by which the electorate identified the common good, and politicians carried this out for them. He argued this was unrealistic, and that people's ignorance and superficiality meant that in fact they were largely manipulated by politicians, who set the agenda. This made a 'rule by the people' concept both unlikely and undesirable. Instead he advocated a minimalist model, much influenced by Max Weber, whereby democracy is the mechanism for competition between leaders, much like a market structure. Although periodical votes from the general public legitimize governments and keep them accountable, the policy program is very much seen as their own and not that of the people, and the participatory role for individuals is severely limited.

Schumpeter and entrepreneurship

The concept of entrepreneurship cannot be fully understood without his contributions, being probably the first scholar to develop its theories. He gave two theories, sometimes called Mark I and Mark II. In the first one, the early one, Schumpeter argued that the innovation and technological change of a nation comes from the entrepreneurs, or wild spirits. He came up with the German word Unternehmergeist, meaning entrepreneur-spirit. He believed that these individuals are the ones who make things work in the economy of the country. In Mark II, later in the United States as professor at Harvard, he pointed out that the ones who really move the innovation and economy are the big companies which have the resources and capital to invest in research and development. Both arguments might be complementary today.

The English literature preferred to use the French word entrepreneurship, but perhaps the German one would be more correct to understand the entrepreneur studies.

His legacy

For some time after his death, Schumpeter's views were most influential among heterodox economists, especially European, who were interested in industrial organization, evolutionary theory, and economic development, and who tended to be on the other end of the political spectrum of Schumpeter and were often also influenced by Keynes, Karl Marx, and Thorstein Veblen. Robert Heilbroner was one of Schumpeter's most renowned pupils, who wrote extensively about him in "The Worldly Philosophers". Another outstanding student of Schumpeter's was the economist Nicholas Georgescu-Roegen. Today, Schumpeter is a protagonist of the mainstream, not in academic economics ("standard textbook economics"), but in economic policy, management studies, industrial policy, and the entire area of innovation. The concept of entrepreneurship cannot be fully understood without his contributions, being probably the first scholar to develop its theories. The European Union's innovation program, and its main development plan, the Lisbon Strategy, are based on Schumpeter.

Schumpeter grant of the Austrian Federal Ministry of Science and Research

The Schumpeter Grant to study the Master in Public Administration program at Harvard University, John F. Kennedy School of Government, is granted by the ÖAD on behalf of and financed by the Austrian Federal Ministry of Science and Research for 1 person each year. The duration is 12 months, in case of a successful course of study the grant can be renewed for a maximum of 10 months.


  • Graduates


Grant benefit paid

Monthly grant 1,090 Euro; monthly study cost subsidy up to a maximum of 2/3 of the tuition fees or maximum of 10,900.00 Euro, respectively; no travel costs allowance


Selection procedure

1. Pre-selection based on the documents submitted. Evaluation of course of study (duration and grades), motivation

2. Interviews by a committee in Vienna: Evaluated items are the project and its relevance for the future professional and academic development, respectively, of the candidate, course of study (duration and grades), professional qualifications (e.g. publications), additional qualifications, general personal impression, grades for the Austrian administration system.

3. Proof of admission at the KSG


  • Junior researchers / employees at universities


Grant benefit paid

Monthly grant amounting to the net salary, study cost subsidy up to a maximum of 3/4 of the tuition fees or maximum of 15,000.00 Euro, respectively; no travel costs allowance


Selection procedure

Interviews by a committee in Vienna: Evaluation of the project and its relevance for the future professional and academic development, respectively, of the candidate, professional qualifications (e.g. publications), additional qualifications, general personal impression

Notes

  1. ^ Schumpeter, Joseph A." Encyclopædia Britannica. 2007. Encyclopædia Britannica Online. 12 Aug. 2007 <http://www.britannica.com/eb/article-9066242>.
  2. ^ Muller, Jerry Z. The Mind and the Market. Anchor Books, New York. 2003.
  3. ^ It is interesting to note, that Schumpeter's theories of the transition of capitalism into socialism has – according to some analysts – been ‘nearly right’ in some cases: Where Schumpeter was Nearly Right - The Swedish Model and Capitalism, Socialism and Democracy by Magnus Henrekson, Ulf Jakobsson. Available at http://swopec.hhs.se/iuiwop/papers/iuiwop0533.pdf

Major Works

  • "Über die matematische Methode der theoretischen Ökonomie", 1906, ZfVSV.
  • "Das Rentenprinzip in der Verteilungslehre", 1907, Schmollers Jahrbuch
  • Wesen und Hauptinhalt der theoretischen Nationalökonomie (transl. The Nature and Essence of Theoretical Economics), 1908.
  • "On the Concept of Social Value", 1909, QJE
  • Wie studiert man Sozialwissenschaft, 1910 (transl. by J.Z. Muller, "How to Study Social Science", Society, 2003)
  • "Marie Esprit Leon Walras", 1910, ZfVSV.
  • "Über das Wesen der Wirtschaftskrisen", 1910, ZfVSV
  • Theorie der wirtschaftlichen Entwicklung (transl. The Theory of Economic Development: An inquiry into profits, capital, credit, interest and the business cycle) , 1911.
  • Economic Doctrine and Method: An historical sketch, 1914.
  • "Das wissenschaftliche Lebenswerk Eugen von Böhm-Bawerks", 1914, ZfVSV.
  • Vergangenkeit und Zukunft der Sozialwissenschaft, 1915.
  • The Crisis of the Tax State, 1918.
  • "The Sociology of Imperialism", 1919, Archiv für Sozialwissenschaft und Sozialpolitik
  • "Max Weber's Work", 1920, Der österreichische Volkswirt
  • "Carl Menger", 1921, ZfVS.
  • "The Explanation of the Business Cycle", 1927, Economica
  • "Social Classes in an Ethnically Homogeneous Environment", 1927, Archiv für Sozialwissenschaft und Sozialpolitik.
  • "The Instability of Capitalism", 1928, EJ
  • Das deutsche Finanzproblem, 1928.
  • "Mitchell's Business Cycles", 1930, QJE
  • "The Present World Depression: A tentative diagnosis", 1931, AER.
  • "The Common Sense of Econometrics", 1933, Econometrica
  • "Depressions: Can we learn from past experience?", 1934, in Economics of the Recovery Program
  • "The Nature and Necessity of a Price System", 1934, Economic Reconstruction.
  • "Review of Robinson's Economics of Imperfect Competition", 1934, JPE
  • "The Analysis of Economic Change", 1935, REStat.
  • "Professor Taussig on Wages and Capital", 1936, Explorations in Economics.
  • "Review of Keynes's General Theory", 1936, JASA
  • Business Cycles: A theoretical, historical and statistical analysis of the Capitalist process, 1939.
  • "The Influence of Protective Tariffs on the Industrial Development of the United States", 1940, Proceedings of AAPS
  • "Alfred Marshall's Principles: A semi-centennial appraisal", 1941, AER.
  • "Frank William Taussig", 1941, QJE.
  • Capitalism, Socialism and Democracy, 1942.
  • "Capitalism in the Postwar World", 1943, Postwar Economic Problems.
  • "John Maynard Keynes", 1946, AER.
  • "The Future of Private Enterprise in the Face of Modern Socialistic Tendencies", 1946, Comment sauvegarder l'entreprise privée
  • Rudimentary Mathematics for Economists and Statisticians, with W.L.Crum, 1946.
  • "Capitalism", 1946, Encyclopaedia Britannica.
  • "The Decade of the Twenties", 1946, AER
  • "The Creative Response in Economic History", 1947, JEH
  • "Theoretical Problems of Economic Growth", 1947, JEH
  • "Irving Fisher's Econometrics", 1948, Econometrica.
  • "There is Still Time to Stop Inflation", 1948, Nation's Business.
  • "Science and Ideology", 1949, AER.
  • "Vilfredo Pareto", 1949, QJE.
  • "Economic Theory and Entrepreneurial History", 1949, Change and the Entrepreneur
  • "The Communist Manifesto in Sociology and Economics", 1949, JPE
  • "English Economists and the State-Managed Economy", 1949, JPE
  • "The Historical Approach to the Analysis of Business Cycles", 1949, NBER Conference on Business Cycle Research.
  • "Wesley Clair Mitchell", 1950, QJE.
  • "March into Socialism", 1950, AER.
  • Ten Great Economists: From Marx to Keynes, 1951.
  • Imperialism and Social Classes, 1951 (reprints of 1919, 1927)
  • Essays on Economic Topics, 1951.
  • "Review of the Troops", 1951, QJE.
  • History of Economic Analysis, (published posthumously, ed. Elisabeth Boody Schumpeter), 1954.
  • "American Institutions and Economic Progress", 1983, Zeitschrift fur die gesamte Staatswissenschaft
  • "The Meaning of Rationality in the Social Sciences", 1984, Zeitschrift fur die gesamte Staatswissenschaft
  • "Money and Currency", 1991, Social Research.
  • Economics and Sociology of Capitalism, 1991.

References

  • Cheung, Edward "Baby Boomers, Generation X and Social Cycles" "The latest findings on Schumpeter's Creative Destruction."
  • Harris, S. E. (ed.), 1951. Schumpeter: Social Scientist. Harvard University Press.
  • Robbins, L. C., 1955, "Schumpeter's History of Economic Analysis," Quarterly Journal of Economics 69: 1-22.
  • Muller, Jerry Z., 2002. The Mind and the Market: Capitalism in Western Thought. Anchor Books.
  • Groenewegen, Peter, 2003. Classics and Moderns in Economics: Essays on Nineteenth And Twentieth Century Economic Thought: Vol. 2. Routledge. Chpt. 22, pp 203+.
  • McCraw, Thomas K., 2007. Prophet of Innovation: Joseph Schumpeter and Creative Destruction. Belknap Press.
  • Carayannis, E. G. and Ziemnowicz, C., 2007. Rediscovering Schumpeter. Palgrave Mcmillan. ISBN 978-1403942418.
  • Harry Dahms 1995. "From Creative Action to the Social Rationalization of the Economy: Joseph A. Schumpeter's Social Theory." Sociological Theory 13 (1): 1-13.
  • Richard Swedberg, Schumpeter: A Biography. Princeton: Princeton Uni Press, 1991.
  • Michaelides, P. and Milios, J. (2005), Did Hilferding Influence Schumpeter?, History of Economics Review, Vol. 41, Winter, pp. 98-125.
  • Michaelides, P. and Milios, J. (2004), Hilferding’s Influence on Schumpeter: A First Discussion, European Association for Evolutionary Political Economy Proceedings of the 16th Annual International Conference, Crete, Greece, 28-31 October (CD-ROM).
  • Michaelides, P., Milios, J. and Vouldis, A. (2007), Schumpeter and Lederer on Economic Growth, Technology and Credit, European Association for Evolutionary Political Economy, Proceedings of the 19th Annual International Conference, Porto, 2007, 1-3 November (CD-ROM)...

See also

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