Economics Dictionary of ArgumentsHome | |||
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Capitalism: Capitalism is an economic system where private individuals or businesses own and operate the means of production for profit. It is characterized by competition, markets, and a focus on individual wealth accumulation._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
Author | Concept | Summary/Quotes | Sources |
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Joseph A. Schumpeter on Capitalism - Dictionary of Arguments
Brocker I 250 Capitalism/Schumpeter: Thesis: a) Capitalism is best understood not as a system of market equilibria, but rather as a competitive dynamic process, driven by innovative companies, to disrupt equilibria; this process not only captures and transforms the structures of the economy, but all structures of modern society. b) For the sake of scientific progress, one must strictly distinguish between positive and normative analysis: Brocker I 251 SchumpeterVsClassical Economy/SchumpeterVsRicardo/SchumpeterVsKeynes: these authors did not make the distinction between positive and normative analysis. ((s) Distinction descriptive/normative.). Brocker I 254 Schumpeter's thesis: Capitalism will not perish from its failures, but from its successes. In contrast to Marx, however, this is presented as a conditional prognosis rather than an unconditional one. The condition is that no disturbing influences occur in the future development. (1) Schumpeter pro capitalism: see Civilization/Schumpeter. Brocker I 255 Innovation/Schumpeter: the development of capitalism can only be described taking into account the innovation competition for ever new products, processes and organizational forms, which is essential for the process of creative destruction. (2) Brocker I 262 Schumpeter's main message is that the (supposed) strengths of socialism should be feared as totalitarianism and that the (supposed) weaknesses of capitalism should be acknowledged as civilized in modern society and thus worthy of preservation. >Socialism/Schumpeter. 1. Joseph A. Schumpeter, Capitalism, Socialism and Democracy, New York 1942. Dt.: Joseph A. Schumpeter, Kapitalismus, Sozialismus und Demokratie, Tübingen/Basel 2005 (zuerst: Bern 1946). S. 105, 263. 2. Ebenda S. 142. Ingo Pies, „Joseph A. Schumpeter, Kapitalismus, Sozialismus und Demokratie (1942)“ in: Manfred Brocker (Hg.) Geschichte des politischen Denkens. Das 20. Jahrhundert. Frankfurt/M. 2018._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
EconSchum I Joseph A. Schumpeter The Theory of Economic Development An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle, Cambridge/MA 1934 German Edition: Theorie der wirtschaftlichen Entwicklung Leipzig 1912 Brocker I Manfred Brocker Geschichte des politischen Denkens. Das 20. Jahrhundert Frankfurt/M. 2018 |