Capitalism, Socialism and DemocracyCapitalism, 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 understated. Why 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 more balanced consideration of the most important social movements of his and our time. |
Contents
THE MARXIAN DOCTRINE | |
Prologue | |
Marx the Prophet | |
Marx the Sociologist | |
Marx the Economist | |
Marx the Teacher | |
CAN CAPITALISM SURVIVE? | |
Prologue | |
Growing Hostility | |
Decomposition | |
A Preliminary Point | |
The Human Element | |
Transition | |
The Setting of the Problem | |
The Classical Doctrine of Democracy | |
Another Theory of Democracy | |
The Rate of Increase of Total Output | |
Plausible Capitalism | |
The Process of Creative Destruction | |
Monopolistic Practices | |
Closed Season | |
The Vanishing of Investment Opportunity | |
The Civilization of Capitalism | |
Crumbling Walls I The Obsolescence of the Entrepreneurial Function | |
The Destruction of the Protecting Strata | |
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Common terms and phrases
accept actually analysis argument attitude Bolshevik bourgeois bourgeoisie Business Cycles capitalism capitalist evolution capitalist order capitalist process capitalist society classical doctrine Communist Communist Manifesto course creative destruction criticism Das Kapital definite democratic method doubt economic economists effective element English existing exploitation fact factors function fundamental groups hand hence historical important income increase individual industrial instance intellectuals interests investment labor leadership less logic Marx Marx’s Marxian Marxist matter means ministry of production modern monopoly Moreover nature observed obvious organization output parliament particular perfect competition political politicians position possible practice principle problem production profits proletariat proposition question rational reader reason result revolution rule Russian Schumpeter Schumpeter's sense simply situation Social Democratic party Socialism and Democracy socialist parties socialist society standpoint stratum structure success surplus value theory things trade unions true wage