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Product details

File Size: 1425 KB

Print Length: 464 pages

Publisher: Start Publishing LLC; New Ed edition (December 19, 2012)

Publication Date: December 19, 2012

Sold by: Amazon Digital Services LLC

Language: English

ASIN: B00AWO0CYI

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“We always plan too much and always think too little.’’( . . . action — do something! — replaces meditation . . . )“We resent a call to thinking and hate unfamiliar argument that does not tally with what we already believe or would like to believe.’’( . . . my teachers were all wrong? wha . . . )“We walk into our future as we walked into the war, blindfolded. Now this is precisely where I wanted to serve the reader. I did want to make him think. And in order to do so it was essential not to divert his attention by discussions about what from any given standpoint “should be done about it” which would have monopolized his interest.’’(Schumpeter not writing policy)“Analysis has a distinct task and to this task I wished to keep though I was fully aware of the fact that this resolve would cost me a great deal of the response a few pages of practical conclusions would have evoked.’’( . . . theory is not . . . action . . . )“This, finally, leads to the charge of “defeatism.” I deny entirely that this term is applicable to a piece of analysis. Defeatism denotes a certain psychic state that has meaning only in reference to action.’’( . . . this book pessimistic . . . )“Facts in themselves and inferences from them can never be defeatist or the opposite whatever that might be.”“The report that a given ship is sinking is not defeatist. Only the spirit in which this report is received can be defeatist: The crew can sit down and drink. But it can also rush to the pumps. If the men merely deny the report though it be carefully substantiated, then they are escapists. Moreover, even if my statements of tendencies amounted more definitely to prediction than they were intended to do, they would still not carry defeatist suggestions. What normal man will refuse to defend his life merely because he is quite convinced that sooner or later he will have to die anyhow?’’( . . . remember titanic . . . )“This applies to both the groups from which the charge has come: sponsors of private-enterprise society and sponsors of democratic socialism. Both of them stand to gain if they see more clearly than they usually do the nature of the social situation in which it is their fate to act.’’( do you really . . . really . . . want to understand . . . )“Frank presentation of ominous facts was never more necessary than it is today because we seem to have developed escapism into a system of thought.”( . . . avoiding understanding is so . . . so . . . fun . . . )“This is my motive as it is my apology for writing the new chapter. The facts and inferences there presented are certainly not pleasant or comfortable. But they are not defeatist.’’“Defeatist is he who, while giving lip service to Christianity and all the other values of our civilization, yet refuses to rise in their defense—no matter whether he accepts their defeat as a foregone conclusion or deludes himself with futile hopes against hope. For this is one of those situations in which optimism is nothing but a form of defection.’’Schumpeter defending himself against the accusation — that he thinks capitalism should not be defended — since his says it will fail and disappear.He responds by pointing out that if a ‘Christian’ is sincere and devoted, he will ‘analyze’ Christianity to understand how to support and protect it. However, if the Christian just proclaims the defects so he can find excuse to give up — well, that is not devotion — that is defeatism.Schumpeter says that, like the devoted Christian, his purpose in analyzing the problems of capitalism — is not an excuse to give up — but as warning to work harder to defend it.PART I: THE MARXIAN DOCTRINE1 Marx the ProphetII Marx the SociologistIII. Marx the EconomistIV. Marx the TeacherPART II: CAN CAPITALISM SURVIVE?XI. The Civilization of CapitalismXII. Crumbling WallsXIII. Growing HostilityXIV. DecompositionPART III: CAN SOCIALISM WORK?XVI. The Socialist BlueprintXVII. Comparison of BlueprintsXVIII. The Human ElementXIX. TransitionPART IV: SOCIALISM AND DEMOCRACYXX. The Setting of the ProblemXXI. The Classical Doctrine of DemocracyXXII. Another Theory of DemocracyPART V: A HISTORICAL SKETCH OF SOCIALIST PARTIESXXV. The Situation that Marx FacedXXVI. From 1875 to 1914XXVII. From the First to the Second World WarXXVIII. The Consequences of the Second World WarThis work composed in 1930/40’s. Schumpeter lived through WW1 Austria and served in postwar government. His insights are driven from his political service combined with his economic education. Gives a deeper vision than either experience could provide in isolation.Spends a lot of time with Marx and less with others, although not ignoring them.This written more for serious students than general reader. Why not? At this time he was a famous Harvard professor.In fact, the prose is pedantic, verbose, stiff and difficult.In contrast, Ludwig Von Mises, his fellow student in Austria, is easy to absorb. Oh well . . .Nevertheless, Schumpeter offers a lot of gems. Some brilliant, some obscure, some hidden, some puzzling — but none worthless (especially since just a few dollars on my kindle).No photographsNo bibliographyNo indexTable of contents (linked)

This writer from over 75 years ago was a better thinker and writer than than any in his group economists or thinker’s. Had Marks,his daughter or Engel been as good as writers they might have taken over the world. His insight was cutting to the truth on every point. His conclusions are yet to have come to be. Things are still a work in progress.

Incredibly predictive of our current economy, but a difficult read. Then again, is it worth reading if it's easy?

Very important and clear book about capitalism and socialism. Specially the exposition on broken creativity.

This is an important work in the development of the discipline of economics. The conventional rating by stars is meaningless.

Classic important book for academics. Dated of course.

The narrative is mostly complex; just keep plowing through it.

Unless you are well studied in economic thought over the past 200 years you will find this pretty deep -- I did, and for a non-economist it is a book that will take time to digest. Free Market economics well thought out, but heavy reading for me. I can't say I "enjoyed" it, only that it took me to ideas I had not fully thought out. IMO, Milt Friedman is a much easier read, but Schumpeter is a classic free market economist.

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