CAPITALISM, SOCIALISM

CAPITALISM, SOCIALISMAND DEMOCRACYWhen Joseph Schumpeter s book first appeared, the New English Weeklypredicted that for the next five to ten years it will certainly remain awork with which no one who professes any degree of information onsociology or economics can afford to be unacquainted . The prophecy hasbeen justified, but how much more fully than its maker anticipated. Ageneration later, it is more widely read than when it first appeared. Themixed economy has become established in North America as well as inthe countries of the European Community, while in the socialist countriesthere has been a move towards various forms of decentralisation and ofa market economy. In this new context the issues that Schumpeter raisesare still matters of lively , SOCIALISM ANDDEMOCRACYJ oseph SWEDBERGS tockholm UniversityLondon and New YorkFirst published in the USAThis edition published in the Taylor & Francis e-Library, published in the UK in 1943 First impression 1944 Second edition 1947 Third edition 1950 First impression 1952 Fo

socialism in the Soviet Union and East-Central Europe (Part III). I. THE MAKING OF CAPITALISM, SOCIALISM AND DEMOCRACY AND ITS PLACE IN SCHUMPETER’S WORK AS A WHOLE The story of how Schumpeter came to write Capitalism, Socialism and Democracy can be sketched in a few lines. Towards the end of the 1930s, Schumpeter decided to write a …

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