Customer Review

14 of 15 people found the following review helpful
5.0 out of 5 stars Wrong conclusion, but all the same ..., 20 Sep 2005
This review is from: Capitalism, Socialism and Democracy (Paperback)
In this book, first published in 1942, Joseph A. Schumpeter reached the conclusion that capitalism wouldn't be able to survive, due to diverse characteristics that were intrinsic to it. For example, he thought that monopolistic practices would only increase with time, thus damaging the capitalist process and not allowing it to function smoothly.
Obviously, by now we have realized that his conclusion was inexact, but that doesn't mean that we should overlook *Capitalism, Socialism, and Democracy*. Schumpeter's analysis of capitalism and socialism, his concept of *creative destruction* and his economic definition of democracy are only some of the things included in this book that should be taken into account. Perhaps reality didn't end up matching the premises the author adhered to, but all the same we are likely to learn a lot from the valid points he makes along the way.
Schumpeter's draws the arguments to support his ideas from different fields: Economy, Sociology, History, and even (sometimes) Psychology. Because of that his premises don't tend to be unidimensional, but rather take into account the different facets of reality. As a result, this book is much more interesting to read, even though it might seem somehow difficult at first to many readers.
The interesting ideas in *Capitalism, Socialism, and Democracy* are many, and I can't tell you about all of them without making this review impossibly long. Despite that, I can tell you at least something regarding the notions that I consider more interesting, for example the well-explained notion that *creative destruction* is the essence of capitalism. Also, I think that it is worthwhile to highlight Schumpeter's economic definition of the democratic method, as an *institutional arrangement for arriving at political decisions in which individuals acquire the power to decide by means of a competitive struggle for the people's vote*.
On the whole, I think you will enormously appreciate this landmark book, if you enjoy a good and careful analysis and aren't easily scared by books that at first glance seem too difficult. Provided you persist, you will realize that this book is as easy to tackle as many others... The only difference is that after reading *Capitalism, Socialism, and Democracy* you will know a lot more, something that not so many other books can offer :)
Belen Alcat
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No

[Add comment]
Post a comment
To insert a product link use the format: [[ASIN:ASIN product-title]] (What's this?)
Amazon will display this name with all your submissions, including reviews and discussion posts. (Learn more)
Name:
Badge:
This badge will be assigned to you and will appear along with your name.
There was an error. Please try again.
Please see the full guidelines ">here.

Official Comment

As a representative of this product you can post one Official Comment on this review. It will appear immediately below the review wherever it is displayed.   Learn more
The following name and badge will be shown with this comment:
 (edit name)
After clicking on the Post button you will be asked to create your public name, which will be shown with all your contributions.

Is this your product?

If you are the author, artist, manufacturer or an official representative of this product, you can post an Official Comment on this review. It will appear immediately below the review wherever it is displayed.  Learn more
Otherwise, you can still post a regular comment on this review.

Is this your product?

If you are the author, artist, manufacturer or an official representative of this product, you can post an Official Comment on this review. It will appear immediately below the review wherever it is displayed.   Learn more
 
System timed out

We were unable to verify whether you represent the product. Please try again later, or retry now. Otherwise you can post a regular comment.

Since you previously posted an Official Comment, this comment will appear in the comment section below. You also have the option to edit your Official Comment.   Learn more
The maximum number of Official Comments have been posted. This comment will appear in the comment section below.   Learn more
Prompts for sign-in
 

Comments


Sort: Oldest first | Newest first
Showing 1-2 of 2 posts in this discussion
Initial post: 30 Nov 2009 01:37:35 GMT
Lark says:
Schumpeter wouldnt define the status quo as capitalist, for the very reasons you mentioned, infact I'm not sure that many of the classical economic school where they entirely honest could. There's not a successful economy today that doesnt more or less conform to Keynesian norms.

Posted on 30 Jan 2010 17:57:48 GMT
Just one thing to consider. You appear to be looking to the past whereas Schumpeter was looking into the future. What I mean by that is that Schumpeter tried to predict what would happen in the distant future - never once specifying an exact time period- whereas you are looking to the past and saying, " well if it hasn't happened thus far, it will never happen". In essence, you are trying to cut the timeline short and falsify his claims using incomplete data.

I'm not saying he's certainly right, but I think in the grand scheme of things, even 200-300 years isn't long enough for us to say for sure that what these men have said is wrong.

Just think about it.
‹ Previous 1 Next ›

Review Details

Item

5.0 out of 5 stars (1 customer review)
5 star:
 (1)
4 star:    (0)
3 star:    (0)
2 star:    (0)
1 star:    (0)
 
 
 
43.99 40.40
Add to basket Add to wishlist
Reviewer