Together with John Maynard Keynes and Milton Friedman, Joseph Schumpeter is regarded as one of the three greatest economists of the 20th century. And yet, his actual economic writing has remained something of an enigma. Capitalism, Socialism, and Democracy, his best-known work, was also an unscientific throw-off in his view. His major economic works - The Theory of Economic Development and Business Cycles - have been misunderstood and underappreciated. What has not been realized is that key elements of the Schumpeterian system have hitherto gone missing. Clues to that system were contained in his magisterial History of Economic Analysis, but the full-orbed outworking was contained in his unpublished German manuscript on money and banking. Now published in English translation, the Treatise on Money provides the key to understanding Schumpeter's system. It shows that Schumpeter's famous emphasis on 'creative destruction' is a more complex phenomenon than is popularly understood. In particular, it provides an understanding of the workings of money, banking, and the money and capital markets, that are supremely relevant in the light of current monetary and fiscal policy crises. This present volume is therefore an indispensable contribution to revealing the true Schumpeter to the English-speaking world.

2012 Reprint of 1954 Edition. Exact facsimile of the original edition, not reproduced with Optical Recognition Software. "Economic Doctrine and Method" deals with the progress of economics as a science and particularly with the historical sequence in which economic theories have developed. Successive doctrines are viewed as progressive expansions, clarifications and refinements of one another in an evolution toward a "pure" science of economics. Schumpeter is best known for his work on Business Cycles and the concept of "creative destruction."

2014 Reprint of 1951 Edition. Full facsimile of the original edition, not reproduced with Optical Recognition Software. Joseph Schumpeter was not a member of the Austrian School, but he was an enormously creative classical liberal, and this 1919 book shows him at his best. He presents a theory of how states become empires and applies his insight to explaining many historical episodes. His account of the foreign policy of Imperial Rome reads like a critique of the US today. The second essay examines class mobility and political dynamics within a capitalistic society. Overall, a very important contribution to the literature of political economy.

Schumpeter's Capitalism, Socialism, and Democracy is perhaps the most important and influential book on the subject ever written This volume is the result of an effort to weld into a readable form the bulk of almost forty years' thought, observation and research on the subject of socialism. The problem of democracy forced its way into the place it now occupies in this volume because it proved impossible to state my views on the relation between the socialist order of society and the democratic method of government without a rather extensive analysis of the latter. Moreover, this material also reflected the analytic efforts of an individual who, while always honestly trying to probe below the surface, never made the problems of socialism the principal subject of his professional research for any length of time and therefore has much more to say on some topics than on others. In order to avoid creating the impression that I aimed at writing a well-balanced treatise I have thought it best to group my material around five central themes. Links and bridges between them have been provided of course and something like systematic unity of presentation has, I hope, been achieved. But in essence they are-though not independent-almost self-contained pieces of analysis.

2011 Reprint of 1947 Second Edition. Full facsimile of the original edition, not reproduced with Optical Recognition Software. Originally Published as Part II of Capitalism, Socialism and Democracy 1947]. " Can capitalism survive? No. I do not think it can." Thus opens Schumpeter's prologue to a section of his 1947 book, Capitalism, Socialism and Democracy. One might think, on the basis of the quote, that Schumpeter was a Marxist. But the analysis that led Schumpeter to his conclusion differed totally from Karl Marx's. Marx believed that capitalism would be destroyed by its enemies (the proletariat), whom capitalism had purportedly exploited, and he relished the prospect. Schumpeter believed that capitalism would be destroyed by its successes, that it would spawn a large intellectual class that made its living by attacking the very bourgeois system of private property and freedom so necessary for the intellectual class's existence. And unlike Marx, Schumpeter did not relish the destruction of capitalism. "If a doctor predicts that his patient will die presently," he wrote, "this does not mean that he desires it."

2011 Reprint of 1947 Second Edition. Joseph Alois Schumpeter (1883 - 1950) was an Austrian-American economist and political scientist. He popularized the term "creative destruction" in economics. Schumpeter's most popular book in English is probably Capitalism, Socialism and Democracy. This book opens with a treatment of Karl Marx. While he is sympathetic to Marx's theory that capitalism will collapse and will be replaced by socialism, Schumpeter concludes that this will not come about in the way Marx predicted. To describe it he borrowed the phrase "creative destruction," and made it famous by using it to describe a process in which the old ways of doing things are endogenously destroyed and replaced by new ways.

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Brilliant evaluations of the men most influential in shaping economic thought: Marx, Walras, Menger, Marshall, Pareto, Bohm-Bawerk, Taussig, Fisher, Mitchell and Keynes, In he Appendix: Knapp, von Wiser and Bortkiewitz.