Capitalism, Socialism, and Democracy
Exploring the Evolution of Economic Systems and the Future of Democracy

Comment: In the end it will be seen that the greatest enemy of capitalism was always democracy, i.e. the will of the people. Once the people turn anti-capitalistic, under the influence of a disaffected intelligencia, there is absolutely nothing that can stand against them. Schumpeter at one and the s......more

I was surprised to find in Wikipedia that this is the third most cited book in the social sciences published before 1950 following only The Wealth of Nations and Das Kapital. I had no idea that it was so influential. There are things here to like and hate and things to agree with or reject for peopl......more

Schumpeter is best remembered for having coined the term "creative destruction" a process well understood today whereby entire industries and the jobs that go with them are continually rendered obsolete as new products, new technologies, new ways to make money emerge. Schumpeter speculates about the......more

Schumpeter was probably the best Marxist - as he truly stayed within the original and wide-ranging project initiated by Marx. In this book, Schumpeter goes back to economics and keeps everything anchored in it. Then there are all the sociological, political, historical, prophetical, educational, and......more

This is a classic of economics and of entrepreneurship that lots of people have read in their undergraduate economics or business classes. It is worth reading to get the full perspective of Schumpeter's view of how the economy works. This is perhaps the most articulate statement on the role of of "c......more