Capitalism, Socialism and Democracy

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Routledge, Apr 5, 2010 - Business & Economics - 456 pages

Capitalism, Socialism and Democracy remains one of the greatest works of social theory written in the twentieth Century. 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 first publication in 1943. 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.

This Routledge Classics edition includes a new Introduction by one of the world’s leading economists, Joseph Stiglitz.

 

Contents

INTRODUCTION
Prologue 3
Marx the Sociologist 8
3
Marx the Teacher 38
5 The Rateof Increase ofTotal Output 55
7
Monopolistic Practices 76
The Common Goodand the Will of thePeople 225
22
23
PART
Prologue 273
I
III
From the Firstto theSecondWorldWar 315

Closed Season 93 10 The Vanishing of InvestmentOpportunity 97
The Obsolescence ofthe Entrepreneurial Function 116
Clearing Decks 149
The Socialist Blueprint 154
A Preliminary Point167
The Caseforthe Superiorityofthe Socialist
A Warning 178
The Setting of the Problem 211 I The Dictatorshipofthe Proletariat 211
The Consequences ofthe SecondWorldWar 336
Conclusion351 III Russian Imperialism and Communism 352
Prefaces and CommentsonLater Developments 359
Preface tothe Second Edition1946365 Preface to the Third Edition 1949369
NOTES
INDEX 437
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About the author (2010)

Joseph A. Schumpeter (1883-1950). Originally born in Moravia in the present-day Czech Republic, Schumpeter was a renowned Economist, Business Theorist and Political Scientist. He has numbered among his pupils Robert Solow, the Nobel Laureate, and former chairman of the Federal Reserve Alan Greenspan.

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