History of political science and political philosophy
Mostly The Entire Time the entire time I cannot complain with his ability to deftly philosophy mostly the entire time so I cannot complain with his ability to deftly these concepts in a way which was coeval with some of the reater political scientists like Tocueville or Burke the latter of whom is specifically referenced at least three times This was a Building Ideas: An Architectural Guide to the University of Chicago good read overall by what can only be described as an Austrian socialist A socialist because he believed in socialism and wasn t a Marxist and an Austrian because he didn t understand the uantitative side of economics 45 stars though because he s a way better read than Hayek CommentIn the end it will be seen that thereatest enemy of capitalism was
always democracy ie the will of the people Once the people democracy ie the will of the people Once the people anti capitalistic under the influence of a disaffected intelligencia there is absolutely nothing that can stand against them Schumpeter at one and the same time believes that Capitalism is the most adeuate description of economic reality and that it is doomed How is this possible But it is exactly as the Savior of the Christians said so long ago Man does not live by bread alone Capitalism provides bread but lacks drama romance myth that is why economic irrelevancies and irrationalities like say Communism and Christianity can never be entirely won over or destroyed What Capitalism cannot deliver will be discovered or created somewhere else Eventually one of these discoveries or creations will end the Capitalist era In the wake of the Second World War Joseph Schumpeter wrote an exceptionally intriguing book that everyone capitalist or socialist in persuasion should read and will probably enjoy reading Heavily inspired by Marx and especially his theory of history as much a sociological as an economic text and broad ranging in its analysis of the relationship between capital and society it s a difficult book to pin down and clearly the product of a remarkable thinkerThe uestion which all prophetic works beg is why Schumpeter s vision hasn t come to life Rather than paving the way for a humane socialism we have been left with an especially cruel form of neoliberal capitalismI d also like to uestion his views on the role of intellectuals And his rather narrow view of what socialism is But hey as I said I sought out Schumpeter to provoke myself out of the dogmatic slumbers that I periodically feel myself falling into and he made a than decent intellectual sparring partner Schumpeter lived a very well Schumpeterian lifestyle battered up and down and around the world by the winds of economic turmoil He argues that this undulating dynamism is in fact the defining attribute of capitalism and the reason it has been so undeniably successful at achieving economic Canadian Art, Volume 1 (A-F): Canadian Art: Volume I (A-F) growth Unlike most economists he defends capitalism warts and all He fully recognizes that we have never lived in anything like a perfectly competitive efficient market andoes on to say that we wouldn t even want to in the first place He explicitly defends monopoly and speculation and honestly makes a surprisingly Building the Cold War: Hilton International Hotels and Modern Architecture good case Where he begins to lose me is in his defense of depressions he seems to think that a depression is a necessary corrective for the excesses of the boom an attitude that Krugman aptly dubbed sado monetarism No a depression is a mistake an error that can be corrected relatively easily by sound policyAnd then near the end of the book heoes completely off the deep end One Touch of Scandal going on a long rant about how it is obvious that rich people are superior beings and anyone who would doubt this is foolish or evil To be fair he would never have met Paris Hilton or Donald Trump In his long discussion of socialism he actually he seems to think that the tyranny of Mao and Stalin were essential even laudable because there is simply no other way of keeping the masses in line It was so sickening I had to simplyive up on the book at that point Introduction Capitalism Socialism and Democracy Prefaces and Comments on Later DevelopmentsPreface to the First Edition 1942Preface to the Second Edition 1946Preface to the Third Edition 1949The Ma This is a classic of economics and of entrepreneurship that lots of people have read in their undergraduate economics or business classes It is worth reading to Bulletproof Feathers get the full perspective of Schumpeter s view of how the economy works This is perhaps the most articulate statement on the role of of creative destruction and innovation as critical to the success of capitalism It is also also D as ‘creative destruction’ His work captured not only an economic truth but also the particular source of America’s strength and dynamism The entrepreneurial spirit that Schumpeter recognized in the early twentieth century will continue to drive the American economy in the twenty first century” Lawrence H Summers former Secretary of the Treasury“Schumpeterave us stunning insights into how the world really works We are now living it is said in the Age of Schumpeter A half century ago he published his classic Capitalism Socialism and Democracy a book admired by economists Schumpeter was a powerful prophet and he now offers dazzling insights into everything from the rise of Wal Mart to prosperity’s discontents He is best known for his evocative phrase “creative destruction” Schumpeter saw capitalism as a system that produces material progress– rising living standards creature comforts – through the turmoil of new technologies and business methods The 'entreprenuer' a man of reat vision and. .
Era As To Capitalismas to capitalism socialism would prevail Lost
IN THE TITANIC STRUGGLE BETWEEN THOSEthe titanic struggle between those competing ideologies is democracy which as it turns out today cannot truly survive under either regime With the benefit of hindsight I m perhaps being unfair in judging the book on its merits since Schumpeter could not have foreseen the calamitous outcome of the Soviet planned economy Nor could he have foreseen today s dilemma in America where a few billionaires have become so powerful that they are able to subvert the democratic process ref Dark Money by Jane Meyer It seems to me that Schumpeter was no democrat An interesting work from an historical perspective but certainly neither prophetic nor very useful in addressing the issues of our day when democracy has failed to take root in much of the world and is at risk almost everywhere that it has been instituted It shows how democracy is a vast conspiracy elections are fraudulent individual votes are useless and human nature is corrupt I am finished with this book finally and I think I have read a Charting an Empire: Geography at the English Universities 1580-1620 glimpse into Marx a little I have read Marx s Communist Manifesto before believe it or not and it was one of the first books on economics I ve read Well that state of mind was very similar to many others in the early 20th century as they read the pamphleteering of various political party interests This work discounts some of the radical notions but retains some of the core tenets of Marxist communism A thorough look at some of the finer kinds of socialism is a little wanting but their history is not He will simply lump all forms of older socialism like Fourierism into Orthodox socialism Every shape and kind of socialism is in here St Simon Plato everyone You could hardly think of a type of society not mentioned This is a must read for the political theorist As an economist though I am lukewarm I think that his analysis of economic conditions is interesting at times but choppily made I have just started Morgenstern s book on accuracy in economic investigations so I am no pro but I don t think you should ever roughly compute figures while dropping entire numbers off of both sides of the eventual estimate For instance if you reoing to have a liberal or conservative estimate that s fine but I can think of at least one time whilst in Part II where the unbelievably atrocious statistical estimates occur that he just leaves off entire numbers on both sides so that the answer is both conservative and liberal I mean that s just not right nor is it accurate Now to speak of his economic terminology If he isn t a Chameleon Hours good uantitative economist surely he must be aood ualitative one Wrong I was first struck with difficulty when he wasn t including wages to employees in his term prime cost I assumed it was because he hadn t read Keynes yet I was right I still think he should have defined that particular term before he used it in the footnote The issue I have starts at the last chapter as you can imagine It seems he finally did his homework and read Keynes General Theory of Employment Interest and Money and while I did not enjoy many of Keynes conclusions or his solutions to those conclusions either I must admit I am at once struck with how he rossly misinterpreted him At some point in the book he essentially euates consumption with saving This would be the same as saying consumption investment under the Keynesian system because savings and investment are used interchangeably throughout So either he didn t read the book or just didn t understand it He also failed to use any of its important concepts like marginality or elasticity and just decided to drone on and on incorrectly about Keynes But That was one chapter He kept himself within the sphere of. “Joseph Schumpeter’s classic Capitalism Socialism and Democracy explains the process of capitalism’s 'creative destruction'–a key principle in understanding the logic of lobalization Thomas L Friedman Foreign PolicyIn 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 Chicago Neighborhoods and Suburbs: A Historical Guide 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“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 driverowth through a process he famously characterize.
Joseph Schumpeter á 2 ReadEry cynical of Marxist approaches to economics Strangely enough the section on socialism suggests that socialism may be the coming reality for Europe and America and in this Schumpeter was accurate for Europe and America This is perhaps that he is writing at a time when free market capitalism had not acuitted itself well and overnment intervention seemed increasingly worthwhile This seems at odds with his emphasis on innovation and entrepreneurship and does create somewhat of a tension that is not well resolved in the book Schumpeter s thinking on innovation and entrepreneurship has fared better over time than his positive views on socialism although I am still not sure of his real tone Schumpeter was a fascinating character and his essays and books are fascinating to read They seem to elude easy categorization This particular book evinces an almost Hegelian dialectical method whereby socialism and capitalism are seen as two sides of the same modernist coin The section on capitalism contains the analysis of creative destruction which is justifiably well known But that only takes up a few pages whereas the rest is devoted to a historical analysis of the conditions under which socialism seems to arise as a viable almost inevitable successor to itAlthough a bourgeois economist out of the three things he covers capitalism seems to be the least important at least for the argument he wants to make And as he allows the market society to take the back seat he allows the promise of socialism to bear its full weight as the next stage in the evolution The sections on socialism rely on a notion of socialism that seems very curious to us today He seems to think there are no fundamental problems with organizing a society through a central planning board Partially outdated partially all over the place partially just crazy the book is nonetheless a fascinating read since Schumpeter is such a uniue thinker even though the book s value as a lasting contribution outside of the tremendously important notion of creative destruction which seems to have achieved a life of
its own to the field of economics isown to the field of economics is chapter on democracy I should say contains a brilliant and almost entirely distinct analysis on democracy which is almost Machiavellian in its expos of the power hungry nature of politics It bears very little immediate relevance for his further argument on the relationship between capitalism and socialism but it provides very definite proof of the occasional enius of Schumpeter At 400 pages it is too long There is almost no reason to read the whole book The Building the South Side: Urban Space and Civic Culture in Chicago, 1890-1919 gist of his historical argument for the inevitability of the transition from capitalism to socialism can beained by skimming through a couple of the central chapters His charitable analysis of the positive potential of centralized socialism as a method of efficient economic management has been completely disproved both theoretically and empirically which unfortunately makes the been completely disproved both theoretically and empirically which unfortunately makes the part of the book almost valueless aside from its occasionally brilliant observations The last 100 pages that deal with the history of socialist parties is entirely superfluous I admit to skipping it So I would say the book could be condensed to about a 100 150 pages without losing anythingAs such I cannot entirely recommend reading the book unless you are interested in the history of state socialism as a cause c l bre among intellectuals I would however recommend reading the sections on creative destruction and his brilliantly caustic and spot on analysis of democracy It is a reat read especially for those interested in the political economy It is Schumpeter s best book which is famous for popularising his acclaimed theory on capitalism creative destruction Definitely not a light read it took me forever to finish But it was worth the read I must confess it is a difficult read even for those with an economics background or those who have read Hegel s dialectics or Karl Marx s interpretation of history through dialectic materialism as these theories or their interpretation features uite a lot By and large Schumpeter agrees with Karl Marx that socialism will ultimately follow after capitalism but they differ fundamentally on how that will come about Karl Marx believed that socialism would come at the behest of the proletariat through revolutions whereas Schumpeter believes that capitalism by its very nature of creative destruction it will cause its own destruction. Energy in his day there were few women in business was the driving force of change Sam Walton and Wal Mart fit his theory perfectly Indeed Schumpeter’s idea of chaotic capitalism seems everywhere confirmed” Robert J Samuelson Newsweek“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 rowth entrepreneurship and enterprise at the top of the discipline’s agenda Capitalism Socialism and Democracy is superb” J Bradford DeLong Chronicle of Higher Education“The Classic Rough News great economist Joseph Schumpeter highlighted the role of innovation in powering the rise of new industries the creative destruction of existing ones and therowth in prosperity of economies” Richard Florida The Atlantic“The most influential economist of the 20th century The years since this book first appeared have surely proved Schumpeter to be a major prophet” Peter Drucker Fortun