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I can't find the reference you ask for, but it sounds strange to me.  
Schumpeter had a high opinion of old economists. In his _History_  
(Part V, chapter 5, "Keynes and Modern Macroeconomics", note  
22) Schumpeter tries to explain why young economists followed  
Keynes: "Keynesianism appealed primarily to young theorists  
whereas a majority of the old stagers were, more or less strongly,  
anti-Keynesian. [...] The old or even mature scholar may be not  
only the victim but also the beneficiary of habits of thought formed  
by his past work. I am bot referring now to that deeper  
understanding of things that can hardly be acquired except by the  
labor of decades: apart from this and the difference in attitude to  
'policy' that result from this, there is such a thing as analytic  
experience. And in a field like economics, where training is often  
defective and where the young scholar very often simply does not  
know enough, this element in the case counts much more heavily  
than it does in physics where teaching, even though possibly  
uninspiring, is always competent"   
 
So, Schumpeter would expect, I guess, that young economists  
become wiser as they grow older, so there is no generational  
change.   
 
Manuel Santos 
 
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