Capitalism, Socialism, and Democracy: Third Edition

Front Cover
HarperCollins, Nov 4, 2008 - Business & Economics - 464 pages
25 Reviews

In this definitive third and final edition (1950) of his masterwork, Joseph A. Schumpeter introduced the world to the concept of “creative destruction,” which forever altered how global economics is approached and perceived. Now featuring a new introduction by Schumpeter biographer Thomas K. McCraw, Capitalism, Socialism and Democracy is essential read­ing for anyone who seeks to understand where the world economy is headed.

  

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Review: Capitalism, Socialism and Democracy

User Review  - Nick Anderson - Goodreads

Famous for two things, creative destruction and the theory of democratic elitism. Most of the work is about socialism, its history and why he thought it would triumph over capitalism. His democratic ... Read full review

Review: Capitalism, Socialism and Democracy

User Review  - Louis - Goodreads

Joseph Schumpeter's Capitalism, Socialism and Democracy analyzes the relationship between economic systems and democracy, including the viability of socialism and democracy's role. Among other ... Read full review

Contents

Marx the Prophet
5
Marx the sociologist
9
Marx the Economist
21
Marx the Teacher
45
CAN CAPITALISM SURVIVE?
59
Prologue IHNIOQEP The Rate of Increase of Total Output oooowoi
63
Plausible Capitalism
72
The Process of Creative Destruction
81
CAN SOCIALISM WORK?
165
Clearing Decks
167
The Socialist Blueprint
172
Comparison of Blueprints
187
A Discussion of Comparative Efliciency
188
The Case for the Superiority of the Socialist Blueprint
193
Transition
219
The Setting of the Problem
235

Monopolistic Practices
87
Closed Season
107
The Vanishing of Investment Opportunity m
111
The Civilization of Capitalism
121
Crumbling Walls
131
The Obsolescence of the Entrepreneurial Function
134
Growing Hostility
143
The Social Atmosphere of Capitalism I43 II The Sociology of the Intellectual
145
Decomposition
156
Prologue 35
305
The Situation that Marx Faced 3 i 2
312
From the First to the Second World War
352
The Consequences of the Second World War
376
Preface to the Third English Edition 1949 4 09
409
The March into Socialism
415
Index
427
Copyright

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About the author (2008)

Joseph A. Schumpeter (1883-1950) served as Austria's first finance minister, made and lost a fortune as an investment banker, and taught economics for many years at Harvard. Capitalism, Socialism and Democracy is his best-known work.

Bibliographic information