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Joseph Schumpeter, the Euthanasia of Capitalism

In: The First Socialization Debate (1918) and Early Efforts Towards Socialization

Author

Listed:
  • Frits Holthoon

    (University of Groningen)

Abstract

Euthanasia of capitalism means in the case of Schumpeter that the state will control and plan the economy of the future. Applied to the U.S.A. it testifies how little Schumpeter understood of his host country. Starting from the German/Austrian tradition of economic thought with its emphasis on development Schumpeter rather grudgingly came to accept the merit of Anglophone equilibrium analysis as represented by Keynes. However, his History of Economic Analysis reveals that he remained a student of Böhm-Bawerk by regarding fluctuation and change the mainstay of the economic process.

Suggested Citation

  • Frits Holthoon, 2019. "Joseph Schumpeter, the Euthanasia of Capitalism," The European Heritage in Economics and the Social Sciences, in: Jürgen Backhaus & Günther Chaloupek & Hans A. Frambach (ed.), The First Socialization Debate (1918) and Early Efforts Towards Socialization, pages 131-144, Springer.
    • Handle: RePEc:spr:euhchp:978-3-030-15024-2_10
    DOI: 10.1007/978-3-030-15024-2_10
    as

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