Can Capitalism Survive?: Creative Destruction and the Future of the Global Economy

Overview

Considered by many economists to be the finest analysis of capitalism ever written, Can Capitalism Survive? introduces Joseph A. Schumpeter's theory of "creative destruction," stating that in capitalist economies new innovations erode the position of established firms while also providing new and previously unforeseen avenues of economic growth. Today the effects of such advancements as Mp3s—replacing CDs, which in turn had replaced cassettes and vinyl records—have proven his ideas correct. Prophetically arguing ...

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Overview

Considered by many economists to be the finest analysis of capitalism ever written, Can Capitalism Survive? introduces Joseph A. Schumpeter's theory of "creative destruction," stating that in capitalist economies new innovations erode the position of established firms while also providing new and previously unforeseen avenues of economic growth. Today the effects of such advancements as Mp3s—replacing CDs, which in turn had replaced cassettes and vinyl records—have proven his ideas correct. Prophetically arguing that capitalist societies are also subject to "perennial gales" of destruction that wipe away fortunes, this great economist revealed the vast, often chaotic economic landscape of world capitalism. First published in Schumpeter's classic Capitalism, Socialism and Democracy, here is an invaluable guide the global economy.

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Editorial Reviews

American Conservative
“The greatest defense of capitalist, European civilization ever penned. . . . Schumpeter did more than anyone to persuade American leaders to preserve the capitalist system”
The Nation
“Schumpeter was the most farsighted of twentieth-century economists. His focus on capitalism and creative destruction made him the prophet of globalization.”
Steve Forbes
“The 20th century’s foremost economist.”
Peter Drucker
“The most influential economist of the 20th century.”
Richard Florida
“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.”
Robert J. Samuelson
“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.”
J. Bradford DeLong
“Schumpeter may well be the most important economist of the 21st century.”
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Product Details

  • ISBN-13: 9780061928017
  • Publisher: HarperCollins Publishers
  • Publication date: 9/1/2009
  • Pages: 208
  • Sales rank: 801,601
  • Product dimensions: 4.40 (w) x 7.00 (h) x 0.70 (d)

Meet the Author

Joseph A. Schumpeter (1883-1950) served as Austria's first finance minister, made and lost a fortune as an investment banker, and taught economics for many years at Harvard. Capitalism, Socialism and Democracy is his best-known work.

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Sort by: Showing 1 Customer Reviews
  • Posted March 20, 2010

    insightful, easy read.

    Simply put; Schumpeter was way ahead of his time. This man saw the modern day process of capitalism with a clarity that is still a model. Like Hayek, he debunks theories of social planning and takes to task criticisms of capitalism. However unlike Hayek, he was skeptical of the fate of capitalism.

    If you want to read a man who can speak to us from the past, like he has a magic ball, then this book is a must read. You will walk away with a new perspective on capitalism and socialism.

    1 out of 1 people found this review helpful.

    Was this review helpful? Yes  No   Report this review
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