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Can Capitalism Survive? Creative Destruction and the Future of the Global Economy

3.84  ·  Rating details ·  73 ratings  ·  5 reviews
In this new addition to the Harper Perennial Modern Thought series, preeminent economist Joseph Schumpeter, author of Capitalism, Socialism, and Democracy, offers his celebrated answer to question everyone is now asking: Can Capitalism Survive? His answer: “No. I do not think it can.” Learn his fascinating reason why in this fascinating book of philosophy containing the co ...more
Paperback, 208 pages
Published September 1st 2009 by Harper Perennial Modern Classics (first published 1942)
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Steve
Dec 19, 2018 rated it liked it
Can capitalism survive, Mr. Schumpeter? Gosh, having finished this book, I'm not sure I have any better clue. The author made a comment, in the last one or two chapters, regarding intellectuals that live and think outside the realm of the daily business, social and political world, a remark that very much applies to him.

I wondered this morning, did Schumpeter, Keynes and Hayek (the Hayek of The Road to Serfdom, that is) not represent the end of an era? Their observations arose from a deflationar
...more
Greg Linster
Oct 10, 2011 rated it really liked it
Joseph Schumpeter opens with the following: "Can capitalism survive? No. I do not think it can."

Although both Schumpeter and Karl Marx predicted the demise of capitalism, their reasoning was very different. The Concise Encyclopedia of Economics captures the essence of Schumpeter's thoughts quite concisely, "Schumpeter believed that capitalism would be destroyed by its successes, that it would spawn a large intellectual class that made its living by attacking the very bourgeois system of private
...more
Don Lim
Sep 14, 2019 rated it really liked it
A fan of paradoxes, Schumpeter argued that the destruction of capitalism will come not from the inherent weaknesses of the system but rather from its greatest strengths. The driving force of capitalism is the entrepreneurial spirit and through channeling that spirit: innovation. By creating a new method of production, a new product, or another improvement to our daily lives, entrepreneurs must destroy the pre-existing companies which produced what is now outdated products--or what Schumpeter ter ...more
Sarah McPherson
Sep 06, 2010 rated it really liked it
A germane question, especially in the aftermath of the 2008 global rout. Schumpeter argues that there are seeds of creation in economic collapse, which tells us that perhaps new industries are emerging from the economic meltdown of the crisis. A tour de force.
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Joseph Alois Schumpeter 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.