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- Schumpeter’s view of “monopoly capitalism” is complex. Rather than merely attack or criticize monopolists, Schumpeter saw them as valuable and necessary if momentary players. Their rise, he argued, typically reflects the application of novel technologies that allow them briefly to gain expanded market share and enlarged profit margins.
contemporarythinkers.org/schumpeter/introduction/
7 The role of the large firm in the competitive process and the significance of business strat- egies and practices in relation to the monopoly problem were, for Schumpeter, very much mat- ters of diagnosing a concrete historical pattern as a whole.
Jun 5, 2024 · Schumpeter did not view monopoly capitalism or business cycles as contradictions of the system but as necessary phases for its continued growth. Like Marx, Schumpeter believed that competitive capitalism would first evolve into monopoly capitalism and would ultimately be replaced by socialism.
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the era of monopoly capitalism. The independence and original-ity of his mind are evident in the fact that he renounces the Marxist theory of the inevitable economic collapse of capitalism and replaces it by a vision of a "general cartel" - in more recent terminology, a capitalist planned economy - which would establish
Sep 18, 2024 · The objective of this paper is to analyze the contrasting views of Schumpeter and Young on endogenous process of growth and the future of capitalism itself, particularly pertaining to the emergence of monopoly capitalism.
the shortcomings of capitalism (chaps. vi-viii). In Schumpeter's view, monopoly and oligopoly are not the villains of the play; in fact, they are responsible for much of the glory of capitalism. This is partly because large-scale organization economizes brains but, more important, because monopoly power is a stabilizing element protecting the
View of Monopoly Capitalism. Schumpeter’s view of “monopoly capitalism” is complex. Rather than merely attack or criticize monopolists, Schumpeter saw them as valuable and necessary if momentary players.
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May 7, 2016 · The term guided capitalism emerged in Schumpeter’s analysis of postwar capitalism and was used by him to describe state capitalism and the power of its “managing bureaucracy” to “allocate to private business as much or as little room as may be desired” (2004b, 187).
