Posts Tagged ‘Schumpeter’

Quote note (#175)

Joseph Schumpeter, from his (1946) Encyclopedia Britannica entry on Capitalism:

… prediction of whether or not the capitalist order will survive is, in part, a matter of terminology. If it is to be more than that, it depends upon the likelihood of a reversal not only of existing tendencies, but also of an established state of things, and therefore upon the answer to the question where the political forces are to come from that will be able and willing to effect such a reversal.

July 27, 2015admin 30 Comments »
FILED UNDER :Political economy