Capitalism, Socialism and Democracy remains one of the greatest works of social theory written in the twentieth Century. 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 first publication in 1943. 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 more balanced consideration of the most important social movements of his and our time.
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About the Author
Joseph A. Schumpeter (1883-1950). Originally born in Moravia in the present-day Czech Republic, Schumpeter was a renowned Economist, Business Theorist and Political Scientist. He has numbered among his pupils Robert Solow, the Nobel Laureate, and former chairman of the Federal Reserve Alan Greenspan.
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3 of 3 people found the following review helpful
Format:Paperback
Schumpeter's ideas have made a comeback of late, especially in the digital technology market that likes to think of itself in the midst of his 'gale of creative destruction.' However, those who cite him would do well to read him more closely, and see the concerns he expresses about capitalism without a social dimension, and the foolish conceit of 'perfect competition' still taught in our (quite evidently failing) business schools. His style is tendentious to be sure, and requires close reading for its twists and turns, but well worth the concentration if you want to understand the forces of capitalism. Steglitz' intro is also a bit of a gem in this edition.
7 of 8 people found the following review helpful
By nick fraser
Format:Paperback
Joseph Alois Schumpeter is a must-read genius. He wasn't a nice men at all, but what he has to say about the present is v important.His belief in 'creative destruction' -ie that innovations are accomplished under capitalism at massive cost to human beings means that the economic system is always vulnerable - because people don't like pain or insecurity and, given the choice, will reject them. So in his view 'socialism' is always likely to be more acceptable. But socialism blocks off innovation. What we think of as socialism - high taxes, government control etc, leads to stagnation, loss of liberty etc.It hasn't yet quite happened like that - because of the numerous quite successful attempts to create a Middle Way. But it might well do. Does anyone like our present economic system? Does anyone NOT believe it is somehow doomed? These are the questions that Schumpeter asks in this great, little-known book.
10 of 19 people found the following review helpful
By vera
Format:Paperback|Amazon Verified Purchase
I can't be the first person to review this book , I don't have what it takes but I think someone should make the first mark on the page so that others aren't put off by the lack of reviews. Can someone really clever please step up to the mark as it is just so huge a task to try and give an overview of this masterpiece.
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