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117th out of 233 books
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77 voters
Capitalism, Socialism and Democracy
Capitalism, 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 predic...more
Paperback, 464 pages
Published
August 28th 2006
by Routledge
(first published 1942)
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This was Joseph Schumpeter's most popular and well-known book in English. It opens with a discussion of Karl Marx. Although he is very sympathetic with Marx's theory that capitalism will collapse and be replaced by socialism, Schumpeter believes that this will not happen in the way Marx had predicted. To describe the process of capitalism's demise, he made the phrase "creative destruction" famous whereby the old ways of doing things that characterize capitalism will be destroyed and replaced as...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 "creative destruction" and innovation as critical to the success of capitalism. It is also also very cynical of Marxist approaches to economics. Strangely enough, the section on socialism suggests that...more
In the wake of the Second World War, Joseph Schumpeter wrote an exceptionally intriguing book that everyone, capitalist or socialist in persuasion, should read, and will probably enjoy reading. Heavily inspired by Marx and especially his theory of history, as much a sociological as an economic text, and broad-ranging in its analysis of the relationship between capital and society, it's a difficult book to pin down, and clearly the product of a remarkable thinker.
The question-- which all propheti...more
The question-- which all propheti...more
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 same time believes that Capitalism is the most adequate description of economic reality and that it is doomed. How is this possible? - But it is exactly as the Savior of the Christians said so long ago...more
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 same time believes that Capitalism is the most adequate description of economic reality and that it is doomed. How is this possible? - But it is exactly as the Savior of the Christians said so long ago...more
Pagaliau perskaičiau tą knygą, kuri mane po truputį smaugė visą vasarą. Aišku, vasara ir nėra tas metas, kai geriausiai knygos skaitosi, tai čia gal ir buvo mano klaida, kad pasirinkau ją vasarai.
Galiausiai turiu pripažinti, kad žiauriai trūko ekonominių žinių skaitant šį traktatą, ypač pirmoje dalyje. Skaitydavau po keletą kartų, kol pagaliau pavykdavo suprasti, ką autorius nori pasakyti, Žadėjau jau kaltinti vertėją, kad baisiai sudėtingai ir nesuprantamai išvertė, bet visgi reikia pripažinti,...more
Galiausiai turiu pripažinti, kad žiauriai trūko ekonominių žinių skaitant šį traktatą, ypač pirmoje dalyje. Skaitydavau po keletą kartų, kol pagaliau pavykdavo suprasti, ką autorius nori pasakyti, Žadėjau jau kaltinti vertėją, kad baisiai sudėtingai ir nesuprantamai išvertė, bet visgi reikia pripažinti,...more
Chapters 21 and 22. I do really like his two conceptions of democracy. Perhaps a little too pessimistic when it comes to the stupidity of the population, especially in political matter. Chapter 22 was great, and I think the role of leadership in a democracy is too often overlooked. Conception of democracy as the power struggle between the political elite very interesting.
Nov 24, 2008
Nick Black
marked it as to-read
Recommended to Nick by:
Bryan Cantrill
Shelves:
to-acquire
I found Schumpeter referenced in Cantrill's
The Inculcation of Systems Thinking
, a brilliant presentation at Brown (Cantrill's blog at Sun, "The Observation Deck", is awesome). He seems worth reading.
A tough book, but a vitally important book for understanding the subtle relationships between capitalism, socialism and democracy, especially in its explanation of how capitalism works through 'creative destruction'. Originally published in 1942, 1947 and 1950, this book still has wide applications for today, especially those sections dealing with entrepreneurship, central planning, and democratic processes. But beware, the points Schumpeter makes in this book are extremely subtle, and one canno...more
economics part is a little thick for the casual reader, and (to a certain extent) seems rooted in an older idea of what economics means.
the section on democracy--"Socialism and Democracy"--is fantastic.
the section on democracy--"Socialism and Democracy"--is fantastic.
I registered a book at BookCrossing.com!
http://www.BookCrossing.com/journal/11147611
http://www.BookCrossing.com/journal/11147611
Jan 04, 2012
Eric Baldwin
added it
It shows how democracy is a vast conspiracy, elections are fraudulent, individual votes are useless, and human nature is corrupt.
Schumpeter's comparisons of the capitalist and socialist systems in the realm of democratic thinking... He first briefly outlines Marx's doctrine then analyses capitalism, saying in brief that such a system cannot survive in the long term but if desired can be employed only to be advanced into a form of corporatism. He then explores various socialism theories and incorporates that into democratic society, he also posits that advances in capitalist entrepreneurship will gradually be replaced by s...more
Schumpeter's case is that capitalism would be undone by its successes.
The writing style and clarity of idea and presentation is good.
The writing style and clarity of idea and presentation is good.
I fear this could be tough going, but I would like to understand more about economic systems.
Uh, yeah. This guy sounds awesome and I'm sure he would have been fascinating to listen to, but I cannot summon the intellectual wherewithal to concentrate on the rights and wrongs of Marx.
Uh, yeah. This guy sounds awesome and I'm sure he would have been fascinating to listen to, but I cannot summon the intellectual wherewithal to concentrate on the rights and wrongs of Marx.
"Capitalism, Socialism, and Democracy by Joseph A. Schumpeter (2008)"
The section on Marx and the section on capitalism are terrific.
First two thirds of the book is awesome, then he goes a little nuts.
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An amazing book. If after reading this you continue to sport the fashionable liberal mindset (which seems to be all-too-common among those confident individuals in possession or in progress of an undergraduate degree) then it appears that you'll need some sound reasoning on a practical level in support. Anyways, the book offers some convincing arguments and grounded insight and requires a backward and forward reading so to be sufficiently understood--which I'm far from.
3 1/2 stars.
Very technical, very informative. Used this for my final thesis.
Excellent. An Austrian economist I can read and agree with most of the time. One of the best analysts since Weber.
The man can turn a phrase. Very enjoyable, though the economics content is rather minimal beyond Chapter 8. After wrestling with the question over the past few months, I have to disagree with McCraw's thesis that this was a satire. And with that, the logic on the end of capitalism seems weak. Most of my colleagues loved reading this, but certainly not all.
If pulled into its separate pieces this book would easily be a five star book. Some of the chapters are so fascinating with their insight I could not put it down while others seemed to be only rambling. My favorite parts of this book is its discussion of democracy. It takes you through different theories and tendencies of democracy.
An enormously powerful and influential book. It really rewards close reading, which, alas, I didn't really give it. The much-noted idea of creative destruction is only one of the insights here; but the way in which Marxist theorists have failed to grapple with it suggests that it's noted for a reason.
This academic review of societal theory proposes the notion of “Creative Destruction” as how capitalism perpetually grows and moves forward. It also gives an overview of Marxism along with many other perspectives on Democracy and if it can be a lasting structure for a nation.
I picked this up because it is one of the classics of economic/political philosophy. Took me about 6 months to get through because it is very dense and thought provoking. Not for the faint of heart, but well worth it if you decide to venture in.
I have barely cracked the surface of what this book entails. Part 1 of the book covers Schumpeter's personal interpretation and critique of Karl Marx and his theories. More to come....
Deals with an important question: can we have democratic socialism?
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Joseph Alois Schumpeter (8 February 1883 – 8 January 1950) was an Austrian American economist and political scientist. He briefly served as Finance Minister of Austria in 1919. One of the most influential economists of the 20th century, Schumpeter popularized the term "creative destruction" in economics.
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“Geniuses and prophets do not usually excel in professional learning, and their originality, if any, is often due precisely to the fact that they do not.”
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6 people liked it
“Please do not think that I am accusing socialists of insincerity or that I wish to hold them up to scorn either as bad democrats or as unprincipled schemers and opportunists. I fully believe, in spite of the childish Machiavellism in which some of their prophets indulge, that fundamentally most of them always have been as sincere in their professions as any other men. Besides, I do not believe in insincerity in social strife, for people always come to think what they want to think and what they incessantly profess. As regards democracy, socialist parties are presumably no more opportunists than are any others; they simply espouse democracy if, as, and when it serves their ideals and interests and not otherwise. Lest readers should be shocked and think so immoral a view worthy only of the most callous of political practitioners, ...”
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3 people liked it
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Sep 20, 2012 12:05am