Your Mom's place

The Demise of Capitalism

Go down

The Demise of Capitalism

Post by Schumpeter on Sun Jun 28, 2015 2:12 pm

Demise of capitalism

Schumpeter's most popular book in English is probably Capitalism, Socialism and Democracy. While he agrees with Karl Marx that capitalism will collapse and be replaced by socialism, Schumpeter predicts a different way this will come about. While Marx predicted that capitalism would be overthrown by a violent proletarian revolution, which actually occurred in the least capitalist countries, Schumpeter believed that capitalism would gradually weaken by itself and eventually collapse. Specifically, the success of capitalism would lead to corporatism and to values hostile to capitalism, especially among intellectuals. "Intellectuals" are a social class in a position to critique societal matters for which they are not directly responsible and to stand up for the interests of other classes. Intellectuals tend to have a negative outlook of capitalism, even while relying on it for prestige, because their professions rely on antagonism toward it. The growing number of people with higher education is a great advantage of capitalism, according to Schumpeter. Yet, unemployment and a lack of fulfilling work will cause intellectual critique, discontent and protests. Parliaments will increasingly elect social democratic parties, and democratic majorities will vote for restrictions on entrepreneurship. Increasing workers' self-management, industrial democracy and regulatory institutions would evolve non-politically into "liberal capitalism". Thus, the intellectual and social climate needed for thriving entrepreneurship will be replaced by some form of "laborism". This will restrict "creative destruction" (a borrowed phrase to denote an endogenous replacement of which old ways of doing things by new ways) and so will burden and destroy the capitalist structure.

Schumpeter emphasizes throughout this book that he is analyzing trends, not engaging in political advocacy.[27]

https://en.wikipedia.org/wiki/Joseph_Schumpeter
avatar
Schumpeter
Guest


Back to top Go down

Re: The Demise of Capitalism

Post by K2 on Sun Jun 28, 2015 2:15 pm

this is also the guy that created the "broken window theory"


so , please take note, it IS your future
avatar
K2
Guest


Back to top Go down

Re: The Demise of Capitalism

Post by YMnli on Mon Jun 29, 2015 7:49 pm

Capitalisam can't collapse quick enough, in my humble opinion.

I thought you liked capitalism!
avatar
YMnli
Guest


Back to top Go down

Re: The Demise of Capitalism

Post by Derpy derp on Mon Jun 29, 2015 9:34 pm

I don't even want to be here-i only stay so my kids don't have to feel the loss of their father.


-and in this way,death can't encroach on THEIR lives.


-although I know it will try:)





Capitalism?
Who gives a shit! -there are bigger eggs to fry in this world.
Death and the unborn are a much greater subject then trickling a nickle....from people that don't have it to the people that will be their next victim.
avatar
Derpy derp
Guest


Back to top Go down

Re: The Demise of Capitalism

Post by Sponsored content


Sponsored content


Back to top Go down

Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum