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Capitalism, Socialism And Democracy Remains One Of The Greatest Works Of Social Theory Written This Century When It First Appeared The New English Weekly Predicted That For The Next Five To Ten Years It Will Cetainly Remain A Work With Which No One Who Professes Any Degree Of Information On Sociology Or Economics Can Afford To Be Unacquainted Fifty Years On, This Prediction Seems A Little UnderstatedWhy Has The Work Endured So Well Schumpeter S Contention That The Seeds Of Capitalism S Decline Were Internal, And His Equal And Opposite Hostility To Centralist Socialism Have Perplexed, Engaged And Infuriated Readers Since The Book S Publication By Refusing To Become An Advocate For Either Position Schumpeter Was Able Both To Make His Own Great And Original Contribution And To Clear The Way For A Balanced Consideration Of The Most Important Social Movements Of His And Our Time Capitalism, Socialism and Democracy


About the Author: Joseph Schumpeter

Joseph Alois Schumpeter was an Austrian American economist and political scientist He briefly served as Finance Minister of Austria in 1919 One of the most influential economists of the 20th century, Schumpeter popularized the term creative destruction in economics.



10 thoughts on “Capitalism, Socialism and Democracy

  1. says:

    Introduction Capitalism, Socialism and Democracy Prefaces and Comments on Later Developments Preface to the First Edition, 1942Preface to the Second Edition, 1946Preface to the Third Edition, 1949The March into SocialismNotesIndex


  2. says:

    Comment In the end it will be seen that the greatest enemy of capitalism was always democracy, i.e the will of the people Once the people turn anti capitalistic, under the influence of a disaffected intelligencia, there is absolutely nothing that can stand against them Schumpeter at one and the same time believes that Capitalism is the most adequate description of economic reality and that it is doomed How is this possible But it


  3. says:

    Schumpeter is best remembered for having coined the term creative destruction a process well understood today whereby entire industries and the jobs that go with them are continually rendered obsolete as new products, new technologies, new ways to make money emerge Schumpeter speculates about the possibility of a democratic socialist utopia, but he unconvincingly discounts the reality of human acquisitiveness and the desire for upwar


  4. says:

    This is a classic of economics and of entrepreneurship that lots of people have read in their undergraduate economics or business classes It is worth reading to get the full perspective of Schumpeter s view of how the economy works This is perhaps the most articulate statement on the role of of creative destruction and innovation as critical to the success of capitalism It is also also very cynical of Marxist approaches to economics Str


  5. says:

    It shows how democracy is a vast conspiracy, elections are fraudulent, individual votes are useless, and human nature is corrupt.


  6. says:

    In the wake of the Second World War, Joseph Schumpeter wrote an exceptionally intriguing book that everyone, capitalist or socialist in persuasion, should read, and will probably enjoy reading Heavily inspired by Marx and especially his theory of history, as much a sociological as an economic text, and broad ranging in its analysis of the relationship between capital and society, it s a difficult book to pin down, and clearly the product of a


  7. says:

    Schumpeter was a fascinating character, and his essays and books are fascinating to read They seem to elude easy categorization This particular book evinces an almost Hegelian dialectical method, whereby socialism and capitalism are seen as two sides of the same modernist coin The section on capitalism contains the analysis of creative destruction , which is justifiably well known But that only takes up a few pages, whereas the rest is devoted t


  8. says:

    Schumpeter lived a very, well, Schumpeterian lifestyle, battered up and down and around the world by the winds of economic turmoil He argues that this undulating dynamism is in fact the defining attribute of capitalism and the reason it has been so undeniably successful at achieving economic growth Unlike most economists he defends capitalism warts and all He fully recognizes that we have never lived in anything like a perfectly competitive efficie


  9. says:

    I am finished with this book finally and I think I have read a glimpse into Marx a littleI have read Marx s Communist Manifesto before, believe it or not, and it was one of the first books on economics I ve read Well that state of mind was very similar to many others in the early 20th century as they read the pamphleteering of various political party interests This work discounts some of theradical notions but retains some of the core tenets of Marxis


  10. says:

    It is a great read, especially for those interested in the political economy It is Schumpeter s best book, which is famous for popularising his acclaimed theory on capitalism, creative destruction Definitely not a light read, it took me forever to finish But it was worth the read I must confess, it is a difficult read even for those with an economics background, or those who have read Hegel s dialectics or Karl Marx s interpretation of history through di


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