Capitalism, Socialism and Democracy

Joseph A. Schumpeter, Introduction by Richard Swedberg, Stockholm University.

• Introduction; Part 1 The Marxian Doctrine; prologue1 Prologue; Chapter 1 Marx the Prophet; Chapter 2 Marx the Sociologist; Chapter 3 Marx the Economist; Chapter 4 Marx the Teacher; Part 2 Can Capitalism Survive?; Prologue2 Prologue; Chapter 5 The Rate of Increase of Total Output; Chapter 6 plausible Capitalism; Chapter 7 The Process of Creative Destruction; Chapter 8 Monopolistic Practices; Chapter 9 Closed Season; Chapter 10 The Vanishing of Investment Opportunity; Chapter 11 The Civilization of Capitalism; Chapter 12 Crumbling Walls; Chapter 13 Growing Hostility; Chapter 14 Decomposition; Part 3 Can Socialism Work?; Chapter 15 Clearing Decks; Chapter 16 The Socialist Blueprint; Chapter 17 Comparison of Blueprints; Chapter 18 The Human Element; Chapter 19 Transition; Part 4 Socialism and Democracy; Chapter 20 The Setting of the Problem; Chapter 21 The Classical Doctrine of Democracy; Chapter 22 Another Theory of Democracy; Chapter 23 The Inference; Part 5 A Historical Sketch of Socialist Parties; Prologue 3 Prologue; Chapter 24 The Nonage; Chapter 25 The Situation That Marx Faced; Chapter 26 From 1875 to 1914; Chapter 27 From the First to the Second World War; Chapter 28 The Consequences of the Second World War; Part VI Prefaces and Comments on Later Developments; Preface 1 Preface to the First Edition, 1942; preface 2 Preface to the Second Edition, 1946; preface 3 Preface to the Third Edition, 1949; preface 4 ) before leaving for Chicago to deliver the Walgreen Foundation Lectures. This paper is a first draft but carefully written in his own hand as were all his writings; there was no opportunity for him to make minor corrections or to write the concluding paragraphs. The corrections which consist largely in supplying punctuation or an occasional missing word have been kept to a minimum. The brief concluding paragraphs have been supplied by his wife from notes and memory.