Schumpeter has always been difficult to categorise. His work has provoked many years of interpretation and reinterpretation (see e.g. da Graça Moura 2002, 2015) and concomitantly has been appropriated and put to new purposes at opportune moments (e.g. Schumpeter 2009). …

CSD is a prophetic book, which contains two forecasts. The first of these was that capitalism would destroy itself due to internal decay, and the second was that it would be replaced by socialism. Schumpeter was right about the decay …

John Maynard Keynes (1883-46) known as the ‘father of macroeconomics’ had surprisingly little to say about ‘the long run’. There are, as we shall see, good reasons for this attitude; but if we look carefully into his writings we will, …

A possibly useful way to think about Schumpeter’s book Capitalism, Socialism and Democracy today is to look at the two phases of institutional and structural evolution that we have observed in the industrial economies of the West in the post-war …

In the midst of the celebrations of the 50th anniversary of the 25th of April in 2024, this paper initially analyzes the main currents of opinion regarding the first months after the Revolução dos Cravos, an event that marks both …

Joseph A. Schumpeter is one of the most famous economists of the 20th century and the ‘patron saint’ of the finance and growth literature. We have discovered that the prevailing literature has, however, misinterpreted Schumpeter, which leads to puzzling empirical …

Introduction The economies of the European continent are experiencing just the latest in a long wave of crises that puts pressure on the stability of national institutional settings and the modern experiences, after World War II, of democratic societies. European …

In the 21st century, the systemic and institutional analysis proposed by Karl Polanyi is a decisive reference to apprehend the current cultural and social challenges to (re)embedding the economy in society. This historical setting favored shaped ethical and economic patterns …

Schumpeter’s theory of the democracy as “that institutional arrangement for arriving at political decisions in which individuals acquire the power to decide by means of a competitive struggle for the people’s vote” has influenced several generations of political scientists and …

Context Two worldly philosophers writing during the Second World War wrestled with the relationship between economic systems – such as capitalism vs. socialism – and political systems – democracy vs. autocracy. The first was Schumpeter (1942), an Austrian economist who …

Joseph Schumpeter’s Capitalism, Socialism and Democracy continues to provoke because of his analysis of the nature of capitalist evolution.(1) He claims that the rise of the modern corporation and the attendant bureaucratization of entrepreneurship will lead to a socialist future …

In Capitalism, Socialism and Democracy, Joseph A. Schumpeter asked his famous question on the future of capitalism: «Can Capitalism Survive?» (Schumpeter, 2014, p. 106). In my work I will show that Schumpeter’s question is still relevant today, although for reasons …

In the diverse panorama of neoliberalism in Latin America, the traditional response to anti- neoliberal mobilizations is usually a staunch defense of the model through reactionary and authoritarian means (Bruff, 2013; Chamayou, 2018; Grugel, J. & Riggirozzi, P. 2018; Silva, …

This paper confines its discussions to the idea of innovations by entrepreneurs, as propounded by Schumpeter, its modern trends, impact on social justice, and some likely future implications. As per Schumpeter, creative destructions or innovations by entrepreneurs are critical drivers …

This paper will analyze Schumpeter’s theory of innovation from an economic pluralist perspective. The hypothesis that will be examined is that Schumpeter’s theory of innovation is his most enduring academic legacy. Furthermore, this paper will examine Schumpeter’s theory of innovation …

I. Principles and formation of capitalism.Economic implications. The roots of capitalism (production-economic category) can be traced back to the English bourgeois revolution and the subsequent industrial revolution in Europe. The natural treasures of the world of that time were discovered …

As is known, Schumpeter’s book “Capitalism, Socialism and Democracy” constituted a significant point of reference in the debate on the different forms of economic organization. Even today, the problems raised in his text are very topical and, consequently, a rereading …

The notions of human capital and growth are debated constantly in the economic literature. The limits of these concepts are generally recognised and there is a regular attempt to articulate a more extensive definition of “human capital” and “economic growth”. …

This paper addresses the Viennese intellectual origins of the debate on the decline of contemporary capitalism in the key works of Joseph A. Schumpeter (1883-1950), Karl Polanyi (1886-1964), and Friedrich A. von Hayek (1899-1992). Schumpeter, Polanyi and Hayek have each …

Much of the legitimacy of the neoliberal order stems from the determinations that emanate from the functioning of the capitalist economy and the strength of the ideology propagated by the new cultural industry. However, in political terms, its strength is …

Analyzing the dynamics of entrepreneurial capitalism, Schumpeter highlights the incessant process of “Creative Destruction” in all its facets. A process that is characterized, in its creative genesis and in its bankruptcy genesis, by the symbiotic union of capital accumulation with …