Can Capitalism Survive? The Ignored Warnings of Joseph Schumpeter

Against Marx' doctrine that capitalism will break down under the weight of its economic failure, Schumpeter thinks that its very success undermines the social institutions which protect it and creates conditions in which is will not be able to live and which strongly point to socialism as the heir apparent. The main forces that will achieve this are the corporations and intellectual elites that capitalism created in order to achieve its formidable success in economic life and human knowledge. Perhaps we are seeing Schumpeter's own warnings being realised today?

Dima Bicleanu will lead us in a discussion of Schumpeter's book 'Capitalism, Socialism and Democracy'. This can be found at the internet archive. The book is long but you are encouraged to read Part II 'Can Capitalism Survive?' and the appendix 'The March into Socialism' added to the 1949 edition.

As usual, some of us will arrive and grab a drink and dinner from 6:30. Feel free to join us. See you there!