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This review is from: Capitalism, Socialism and Democracy (Harper Torchbooks) (Paperback)
Economist Joseph A. Schumpeter's keen intellect makes some of today's scholarship sound like the spouting of ideology on talk shows. Some consider him the greatest economist of the twentieth century. Only an intellect of his towering stature would be able to present a case that while Marx was wrong about how capitalism would collapse, he was probably correct that it eventually would. Schumpeter also contends that socialism may eclipse free-market economies, news he feels society should greet with angst. He believed that capitalism's doom would proceed not from a revolution by an angry proletariat, but rather as a result of successes that would give rise to a class of elites who would gradually institute systems of central control. Fully understanding this complex, although non-mathematical, treatise may require some background; it is not a book for the novice. While this 1942 classic may seem dated in spots, those who conclude that it is time to tap dance on socialism's grave should consider that Schumpeter expected socialism's dominance to take a century or more. We recommend this classic to anyone seeking a deeper understanding of the historic, economic case for the rise of socialism.
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Initial post: 30 Nov 2009 01:40:48 GMT
I've always found the prejudice against Marx a little bemusing, since his predictions that capitalism would collapse as result of its own internal contradictions were pretty much held by all economists, left or right, in his day and a great many that preceeded him.
In reply to an earlier post on 11 Dec 2011 14:10:10 GMT
Naziris Victor says:
You must have been high when you wrote this comment Lark...
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