Capitalism, Socialism, and Democracy: Third EditionIn 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. |
Contents
| 3 | |
| 5 | |
| 9 | |
| 21 | |
| 45 | |
CAN CAPITALISM SURVIVE? | 59 |
Prologue | 61 |
The Rate of Increase of Total Output | 63 |
The Destruction of the Institutional Framework of Capitalist Society | 139 |
Growing Hostility | 143 |
The Sociology of the Intellectual | 145 |
Decomposition | 156 |
CAN SOCIALISM WORK? | 165 |
Clearing Decks | 167 |
The Socialist Blueprint | 172 |
Comparison of Blueprints | 187 |
Plausible Capitalism | 72 |
The Process of Creative Destruction | 81 |
Monopolistic Practices | 87 |
Closed Season | 107 |
The Vanishing of Investment Opportunity | 111 |
The Civilization of Capitalism | 121 |
Crumbling Walls | 131 |
The Destruction of the Protecting Strata | 134 |
A Discussion of Comparative Efficiency | 188 |
The Case for the Superiority of the Socialist Blueprint | 193 |
The Setting of the Problem | 235 |
Prologue | 305 |
The Situation that Marx Faced | 312 |
The Consequences of the Second World War | 376 |
Other editions - View all
Common terms and phrases
accept actually amount analysis argument attitude Bolshevik bourgeois bourgeoisie bureaucracy Business Cycles capitalism capitalist evolution capitalist order capitalist process capitalist society class war classical communist Communist Manifesto course creative destruction criticism Das Kapital definite democratic method doctrine doubt economic economists effective element English existing exploitation fact factors function fundamental groups hand hence important income increase individual industrial instance intellectuals interests investment Joseph Schumpeter labor leadership less logic Marx Marx's Marxian Marxist masses matter means ment modern Moreover nature nomic observed obvious organization output parliament particular perfect competition political politicians position possible practice principle problem production profits proletariat proposition question reader realize reason result revolution rule Russian Schumpeter sense simply situation socialist parties socialist society standpoint stratum success sumers surplus value theory things tion trade unions true United wage