Capitalism, Socialism and Democracy remains one of the greatest works of social theory written this century. When it first appeared the New English Weekly predicted that `for the next five to ten years it will cetainly remain a work with which no one who professes any degree of information on sociology or economics can afford to be unacquainted.' Fifty years on, this prediction seems a little understated.

Why has the work endured so well? Schumpeter's contention that the seeds of capitalism's decline were internal, and his equal and opposite hostility to centralist socialism have perplexed, engaged and infuriated readers since the book's publication. By refusing to become an advocate for either position Schumpeter was able both to make his own great and original contribution and to clear the way for a more balanced consideration of the most important social movements of his and our time.



part |58 pages

The Marxian Doctrine

chapter |2 pages


chapter |4 pages

Marx the Prophet

chapter |12 pages

Marx the Sociologist

chapter |24 pages

Marx the Economist

chapter |14 pages

Marx the Teacher

part |105 pages

Can Capitalism Survive?

chapter |2 pages


chapter |9 pages

plausible Capitalism

chapter |20 pages

Monopolistic Practices

chapter |4 pages

Closed Season

chapter |12 pages

Crumbling Walls

chapter |13 pages

Growing Hostility

chapter |8 pages


part |67 pages

Can Socialism Work?

chapter |5 pages

Clearing Decks

chapter |15 pages

The Socialist Blueprint

chapter |13 pages

Comparison of Blueprints

chapter |19 pages

The Human Element

chapter |13 pages


part |70 pages

Socialism and Democracy

chapter |15 pages

The Setting of the Problem

chapter |15 pages

Another Theory of Democracy

chapter |19 pages

The Inference

part |104 pages

A Historical Sketch of Socialist Parties

chapter |1 pages


chapter |6 pages

The Nonage

chapter |32 pages

From 1875 to 1914

chapter |31 pages

The Consequences of the Second World War

Mundus regitur parva sapientia