Joseph Schumpeters views on innovation, entrepreneurship and creative destruction are widely cited in many fields of the social sciences, and are influential in policy and decision making, yet they have often been misinterpreted and misunderstood. Schumpeters Evolutionary Economics fills this void of analysis by introducing novel interpretations of Schumpeters five major works, and tracing the development of his intellectual theory and framework. In so doing it places our understanding of Schumpeter on a new and firmer footing. Esben Sloth Andersen was awarded the Gunnar Myrdal Prize for 2010 for Schumpeters Evolutionary Economics. The Myrdal Prize is awarded annually for the best monograph on a theme broadly in accord with the research perspectives of the European Association for Evolutionary Political Economy.