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2017 marked the seventy-fifth anniversary of Schumpeter's Capitalism, Socialism and Democracy, a work acknowledged as one of the most insightful books written in the twentieth century. It retains a contemporary quality, and still invites criticisms, new interpretations, and extensions and across disciplines.
This book, in addition to re-examining Schumpeter's seminal work and undertaking a twenty-first-century update of its main themes, brings together leading social scientists to provide contemporary amendments, extensions - or eventually refutations - of key elements of Schumpeter's vision and thesis. Issues covered include a new take on creative destruction, the contours of a theory of innovative enterprise, finance and financialisation, a critique of the secular stagnation thesis, Schumpeter's contributions to a theory of the entrepreneurial state, his conception of socialism and its current relevance for understanding the 'China model' as well as a rekindling of his democracy thesis for our times.
Bringing together leading international contributors, this book provides fresh perspectives on ideas that continue to be hugely relevant to contemporary social sciences and a guide for understanding the current tensions among capitalism, the state and democracy. These chapters will be of interest to economists, social scientists and anyone with an interest in modern capitalism.
List of contents
- Introduction – Capitalism, Socialism and Democracy at 75: New Interpretations and New Dimensions, Leonardo Burlamaqui & Rainer Kattel
PART I: New Interpretations
- Creative Destruction as a Radical Departure: A New Paradigm for Analyzing Capitalism, Leonardo Burlamaqui
- Schumpeter and the Dynamics of Capitalism: The Place of Capitalism, Socialism and Democracy, Francisco Louçã
- Individual, Society and Order: A Schumpeterian Trinity, Beniamino Callegari
PART II : New Dimensions
- (Re) introducing Finance into Evolutionary Economics: Keynes, Schumpeter, Minsky and Financial Fragility, Mariana Mazzucato and L. Randall Wray
- Innovative Enterprise and Sustainable Prosperity: Taking Up the Schumpeterian Challenge, William Lazonick
- Secular Stagnation and Creative Destruction: Reading Robert Gordon through a Schumpeterian Lens, Fred Block
- Schumpeter in the Twenty-First Century: Creative Destruction and the Global Green Shift, John Mathews
- Domination, Weak Judgment and the Dilemmas of Contemporary Schumpeterian Democrats, John Medearis
- Bringing the State into Schumpeter’s Model: Entrepreneurial States, Socialization of Investment, Creative-Destruction Management and China, Leonardo Burlamaqui
About the author
Leonardo Burlamaqui is Professor of Economics at the Department of Economic Evolution, State University of Rio de Janeiro, Research Scholar at the Levy Institute – Bard College (New York), and Adjunct Professor at Graduate Program in Public Policies and Development Strategies at the Federal University at Rio de Janeiro. He is also a member of the International Joseph Schumpeter Society.
Rainer Kattel is Professor of Innovation and Public Governance UCL Institute for Innovation and Public Purpose, UK, and Research Professor at Ragnar Nurkse School of Innovation and Governance, Tallinn University of Technology, Estonia.
Summary
In addition to re-examining Schumpeter’s Capitalism, Socialism and Democracy and undertaking a 21st century update of its main themes, this book brings together leading social scientists to provide contemporary extensions – or eventually refutations – of key elements of Schumpeter’s vision and thesis.
