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- Capitalism is doomed to be replaced by socialism. At least that’s the view of Joseph Schumpeter, the well-known Harvard economist responsible for his popularization of the term “creative destruction”—the process where new entrepreneurial innovations arise and subsequently cause the old way of doing things to disappear.
www.fraserinstitute.org/blogs/death-of-capitalism-schumpeters-prognosis-coming-true
May 7, 2007 · Economist Joseph Schumpeter was perhaps the most powerful thinker ever on innovation, entrepreneurship, and capitalism. He was also one of the most unusual personalities of the 20th century, as Harvard Business School professor emeritus Thomas K. McCraw shows in a new biography.
Nov 4, 2021 · Capitalism is doomed to be replaced by socialism. At least that’s the view of Joseph Schumpeter, the well-known Harvard economist responsible for his popularization of the term “creative destruction”—the process where new entrepreneurial innovations arise and subsequently cause the old way of doing things to disappear.
Schumpeter's theory is that the success of capitalism will lead to a form of corporatism and a fostering of values hostile to capitalism, especially among intellectuals.
- Joseph Alois Schumpeter
- 1942
Jan 4, 2020 · The book Capitalism, Socialism and Democracy is primarily about the sustainability or rather the inevitability of the socialism. He saw the ultimate success of capitalism as the cause of its own destruction.
Jun 30, 2022 · Eighty years ago, in the midst of the Second World War, Austrian-born economist Joseph A. Schumpeter published one of his most famous books, Capitalism, Socialism, and Democracy (1942). A central question that he asked and tried to answer was, “Can Capitalism Survive?”
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 property and freedom so necessary for the intellectual class’s existence.
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Aug 15, 2008 · As the leading defender and apostle of capitalism, Schumpeter was a severe critic of the dominant Keynesian thinking of the 1930s, 1940s, and 1950s, thinking preoccupied with stagnation rather than with growth.
