Capitalism, Socialism, and Democracy
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In this classic and prescient book, Joseph A. Schumpeter introduced the world to the concept of “creative destruction,” which forever altered how global economics is approached and perceived. Capitalism, Socialism and Democracy is essential reading for anyone who seeks to know where the world economy is headed.
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Like Hayek’s Road to Serfdom, this book was written during the Secon World War when Keynes was busy crafting the post war peace. It is infused with the 1930s’ corporatist thoughts and tends to favour the Communist version more than the Nazi/Fascist version. Keynes is indisputably the 2oth century’s most vital economist but why does Schumpeter and his creative destruction occupy position #2? I place it down to the same reason as Marx’ Theory of Alienation gained such sway. As there was small else to salvage from Marx’ writings, they hit on that to make him apear significant. Marx was a treacherous idiot and the fact that Schumeter loads measured praise on him suggests that Schumpeter should also join him in the intellectual trash can of history. I see small significant in his work which I feel has gained prominence simply because economics has lost its intellectual direction. Unlike Gary Becker and additional recipients of the Nobel Prize, Schumpeter tackles huge issues. But the huge issues shrug him off. Nothing here to ponder over.
Reader’s Rating: 1 / 5
it would be wise that you read this book before reading the lexus and the lime tree (thomas friedman). you will find both books very enjoyable, while providing a clear understanding of how people connect to governments, governments connect to countries and countries connect to countries… it is all about connexity!
Reader’s Rating: 4 / 5
This is a fantastic introduction into the schools of thought. Should be required reading in American High Schools – but that’s probably asking too much.
On another note, this is among the last items I’ll order from Amazon. After ten years of doing business with them, I just can’t abide the lack of customer service they provide. They are much more geared to just provide automated orders than help customers. They depend on new customers and the fact that most people expect crappy service, so that’s what they provide. I’ve cancelled all open orders with them.
Reader’s Rating: 3 / 5
The most arresting recognition I made when rereading Schumpeter approximately 40 yeasr after my first intelectual rendevous with this fantastic thinker is today’s truth of his work Capitalism, Socialism, and democracy.
Benno D. Hoffmann
Reader’s Rating: 5 / 5
Another book that Dr. L had us read. This book is probably most legendary for its prediction in 1942 that capitalism would eventually be replaced by some form of socialism. I pray that is not the case.
Reader’s Rating: 3 / 5