SCHUMPETER, Joseph Alois.

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Capitalism, Socialism, and Democracy. First UK edition of the most important and controversial work by the prolific economist, among the most widely read and cited in the social sciences.Here, Schumpeter contends that the capitalist system will fail through its own success, rather than through the Marxian process of proletarian revolution. While not relishing the prospect, he hypothesises a form of socialist democracy which could emerge from the wreckage if guided properly. The first edition was published in the US the year before.

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