This is the fourth volume in the "Major Conservative and
Libertarian Thinkers" series. Joseph Schumpeter (1883-1950) was one
of the foremost economic thinkers of the twentieth century. Today
Schumpeter is most well-known for his idea of 'creative
destruction'. This is the notion that a market economy is
simultaneously creative and destructive and therein lies the
process of renewal that is central to the endurance and also the
unpopularity of capitalism. Schumpeter's work also contains one of
the most important conservative critiques of mass democracy.
Schumpeter argued that mass democracy had totalitarian tendencies
and was likely to degenerate into the tyranny of the popular.
General
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