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Capitalism, Socialism and Democracy after Fifty Years

In: Economics in a Changing World

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  • Arnold Heertje

    (University of Amsterdam)

Abstract

Schumpeter dealt with five topics in his famous and much debated book Capitalism, Socialism and Democracy (CSD) published in 1942. He started with a thorough discussion of the Marxian doctrine, which is a brilliant analysis of Marx the prophet, the sociologist, the economist and the teacher. Then follows part two, which has attracted most attention, on the development or rather the decay of capitalism. Part three deals with the question ‘Can socialism work?’ and part four is a treatment of socialism and democracy. In the closing part five, Schumpeter presents a historical sketch of socialist parties.

Suggested Citation

  • Arnold Heertje, 1993. "Capitalism, Socialism and Democracy after Fifty Years," International Economic Association Series, in: Dieter Bös (ed.), Economics in a Changing World, chapter 3, pages 43-59, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-22988-8_3
    DOI: 10.1007/978-1-349-22988-8_3
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