“The most influential economist of the 20th century.” (Peter Drucker, Fortune)
“The great economist Joseph Schumpeter highlighted the role of innovation in powering the rise of new industries, the creative destruction of existing ones, and the growth in prosperity of economies.” (Richard Florida, Atlantic)
“Schumpeter gave us stunning insights into how the world really works. We are now living, it is said, in the Age of Schumpeter. . . . Schumpeter was a powerful prophet, and he now offers dazzling insights into everything from the rise of Wal-Mart to prosperity’s discontents.” (Robert J. Samuelson, Newsweek)
“The greatest defense of capitalist, European civilization ever penned. . . . Schumpeter did more than anyone to persuade American leaders to preserve the capitalist system” (American Conservative)
“Schumpeter may well be the most important economist of the 21st century.” (J. Bradford DeLong, Chronicle of Higher Education)
“Schumpeter was the most farsighted of twentieth-century economists. His focus on capitalism and creative destruction made him the prophet of globalization.” (The Nation)
From the Back Cover
Considered by many economists to be the finest analysis of capitalism ever written, Can Capitalism Survive? introduces Joseph A. Schumpeter's theory of "creative destruction," stating that in capitalist economies new innovations erode the position of established firms while also providing new and previously unforeseen avenues of economic growth. Today the effects of such advancements as Mp3s—replacing CDs, which in turn had replaced cassettes and vinyl records—have proven his ideas correct. Prophetically arguing that capitalist societies are also subject to "perennial gales" of destruction that wipe away fortunes, this great economist revealed the vast, often chaotic economic landscape of world capitalism. First published in Schumpeter's classic Capitalism, Socialism and Democracy, here is an invaluable guide the global economy.