Capitalism, Socialism, and Democracy : Third Edition
Author(s): Joseph A. Schumpeter
“Joseph Schumpeter’s classic Capitalism, Socialism and Democracy explains the process of capitalism’s 'creative destruction' — a key principle in understanding the logic of globalization." — Thomas L. Friedman, Foreign Policy
In this definitive third and final edition (1950) of his prophetic masterwork, Joseph A. Schumpeter introduced the world to the concept of “creative destruction,” which forever altered how global economics is approached and perceived. Now featuring a new introduction by Pulitzer Prize-winning Schumpeter biographer Thomas K. McCraw, Capitalism, Socialism and Democracy is essential reading for anyone who seeks to understand where the world economy is headed.
“If Keynes was the most important economist of the 20th century, then Schumpeter may well be the most important of the 21st. . . . . his economic understanding was brilliant . . . he tried to set long-term economic growth--entrepreneurship and enterprise--at the top of the discipline’s agenda. . . . Capitalism, Socialism, and Democracy is superb.” — J. Bradford DeLong, Chronicle of Higher Education
Review(s):
“Joseph Schumpeter’s classic Capitalism, Socialism, and Democracy explains the process of capitalism’s 'creative destruction'–a key principle in understanding the logic of globalization.”
“The great economist Joseph Schumpeter highlighted the role of innovation in powering the rise of new industries, the creative destruction of existing ones, and the growth in prosperity of economies.”
“The 20th century’s foremost economist.”
"The most important economist of the twenty-first century might actually turn out to be not Adam Smith or Keynes, but Joseph Schumpeter. One of Schumpeter’s most important contributions was the emphasis he placed on the tremendous power of innovation and entrepreneurial initiative to drive growth through a process he famously characterized as ‘creative destruction.’.”
“Schumpeter gave us stunning insights into how the world really works. We are now living, it is said, in the Age of Schumpeter. . . . Schumpeter was a powerful prophet, and he now offers dazzling insights into everything from the rise of Wal-Mart to prosperity’s discontents.”
“If Keynes was the most important economist of the 20th century, then Schumpeter may well be the most important of the 21st. . . . . His economic understanding was brilliant . . . He tried to set long-term economic growth--entrepreneurship and enterprise--at the top of the discipline’s agenda. . . . Capitalism, Socialism, and Democracy is superb.”
“The most influential economist of the 20th century. . . . The years since this book first appeared have surely proved Schumpeter to be a major prophet.”
“Schumpeter was the most farsighted of twentieth-century economists. His focus on capitalism and creative destruction made him the prophet of globalization.”
“In his classic work, Capitalism, Socialism and Democracy, Schumpeter described how unexpected innovations destroyed markets and gave rise to new fortunes.”
“Among the great economists.”
ISBN: 9780061561610