On Friday, July 8, 2022, the International Schumpeter Society (ISS) announced at the 19th ISS Conference that the Schumpeter Prize 2022 is presented to Michael Peneder and Andreas Resch. They receive the award for their monograph entitled “Schumpeter’s Venture Money,” Oxford University Press, 2021. It is the first time that this prestigious award goes to Austria.
Michael Peneder works as an economist at the Austrian Institute of Economic Research (WIFO) and is an associate professor at WU Vienna’s Department of Economics. Andreas Resch is an associate professor at WU’s Institute for Economic and Social History.

In his laudatory speech held during the award ceremony, Prof. Patrick Llerena (University of Strasbourg) praised Peneder and Resch’s book for highlighting some important but previously neglected aspects of Schumpeter’s work. The book provides the first systematic discussion of the key elements of Schumpeter’s theory of money against the relevant background of monetary history, and it gives an innovative account of the consequences these ideas had for Schumpeter’s theory of economic development. In light of these insights, the book reevaluates Schumpeter’s own (failed) activities as a venture investor, drawing from new sources. Finally, the book demonstrates the relevance of Schumpeter’s newly discovered approaches for classifying recent developments in monetary theory as well as current developments in venture financing, recurrent crises, and digital payment and settlement systems. In addition to the book’s high degree of innovation and social relevance, Prof. Llerena also pointed out in his laudatory speech that the book is highly readable.

Previous recipients of the Schumpeter Prize include Christopher Freeman, Joel Mokyr, Richard Musgrave, Mancur Olson, Maureen McKelvey, Steven Klepper, Richard N. Langlois, Richard G. Lipsey, Thomas McGraw, Philippe Aghion, Rachel Griffith, William Lazonick, Franco Malerba, Richard Nelson, Sidney Winter, and Geoffrey M. Hodgson.

https://global.oup.com/academic/product/schumpeters-venture-money-9780198804383?cc=gb&lang=en#