Towards the end of his life, Schumpeter re-painted his picture of capitalist development on an even broader canvas. In Capitalism, Socialism and Democracy (Schumpeter 1950), he offered a complex, multifaceted argument that the type of capitalism he had earlier described might be passing from the historical scene, morphing by small degrees into some variety of socialism.
Sidney G. WinterRelated topics
argument capitalist complex development early end historical might passing picture scene small SchumpeterRelated quotes
From a correct Marxian point of view ... all measures designed to restrain, to regulate and to improve capitalism were simply "petty-bourgeois" nonsense ... True socialists should not place any obstacles in the way of capitalist evolution. For only the full maturity of capitalism could bring about socialism. It is not only vain, but harmful to the interests of the proletarians to resort to such measures.
Ludwig von Mises
The early thirties brought what liberal economists called the Great Depression and Marxist economists described as the great crisis of capitalism. It dawned on me that the economic world order was unreliable, unstable, and, most of all, iniquitous. I sought intellectual contacts and friendship with a group of socialist students and also with a small handful of communist-oriented students and unemployed workers.
Tjalling Koopmans
Capitalism is commodity production at the highest stage of development, when labor power itself becomes a commodity. The growth of internal exchange, and particularly of international exchange, is a special feature of capitalism. The uneven and spasmodic character of the development of individual enterprises, of individual branches of industry and individual countries, is inevitable under the capitalist system.
Vladimir Lenin
The revelation of the secret of water will put an end to all manner of speculation or expediency and their excrescences, to which belong war, hatred, impatience and discord of every kind. The thorough study of water therefore signifies the end of monopolies, the end of all domination in the truest sense of the word and the start of a socialism arising from the development of individualism in its most perfect form.
Viktor Schauberger
When external and internal forces hostile to the development of socialism try to turn the development of a given socialist country in the direction of the restoration of the capitalist system, when a threat arises to the cause of socialism in that country ... this is no longer merely a problem for that country's people, but a common problem, the concern of all socialist countries.
Leonid Brezhnev