Tag: Joseph Schumpeter

Do We Take Miracles of Capitalism for Granted? »

Joseph Schumpeter, in his 1943 book Capitalism, Socialism, and Democracy, was concerned that the people who benefit most from a capitalist economy take its benefits for granted, and cannot be counted on to defend capitalism against its attackers. This would lead to capitalism’s eventual collapse. This seemed plausible in 1943, but less plausible in…
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