TITLE

Capitalism and democracy at a crossroads: the civilizational dimension

AUTHOR(S)
Özveren, Eyüp
PUB. DATE
January 2000
SOURCE
Journal of Evolutionary Economics;2000, Vol. 10 Issue 1/2, p49
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
Abstract. This paper evaluates Schumpeter's grand vision as reflected in his Capitalism, Socialism and Democracy, and elaborates it in conjunction with the so-called "globalization" trends characteristic of the wake of the twenty-first century. In addition to the evolutionary nature of his methodology, the institutionalist dimension of Schumpeter's definitions are brought to light. A case is made for a fundamental process of "uncreative destruction" as far as the institutional setup of the economy is concerned. The contention of this paper is that there is ample support in Schumpeterian analysis for a counterpoint to the liberal thesis that envisages the worldwide spread of individualism, market economies, and democratic forms of government. "I had my own tale to tell." Joseph A. Schumpeter (1939), Business Cycles. "A prejudiced man may yet be speaking the truth." Joseph A. Schumpeter (1942), Capitalism, Socialism and Democracy.
ACCESSION #
4719522

 

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