“Can Capitalism Survive?” Ch. 5 – Closed Season by Joseph Schumpeter (1942)

“Can Capitalism Survive?” Ch. 5 – Closed Season by Joseph Schumpeter (1942) Economics is a science of observation & interpretation Implies in our questions, room for difference of opinion can be narrowed but not reduced to zero Leads to new problems – doesn’t happen in experimental science We asked for an understandable relation between the… Read more “Can Capitalism Survive?” Ch. 5 – Closed Season by Joseph Schumpeter (1942)

“Can Capitalism Survive?” Ch. 4 – Monopolistic Tendencies by Joseph Schumpeter (1942)

Spilling the beans…“Can Capitalism Survive?” Ch. 4 – Monopolistic Tendencies by Joseph Schumpeter (1942) Let’s be more specific about what’s been said: 1 – New technology is a threat to industries who try to conserve positions through restriction of output Creative destruction disrupts the slow, balanced or even stationary state of growth Production expansion only… Read more “Can Capitalism Survive?” Ch. 4 – Monopolistic Tendencies by Joseph Schumpeter (1942)

“Can Capitalism Survive?” Ch. 3 – Process of Creative Destruction by Joseph Schumpeter (1942)

“Can Capitalism Survive?” Ch. 3 – Process of Creative Destruction by Joseph Schumpeter (1942) Monopolistic & Oligarchic Competition can be used in 2 ways to be made to show Capitalism isn’t the way for maximum production performance Some might say it’s always been that way but we’re only just now seeing it & it’s been… Read more “Can Capitalism Survive?” Ch. 3 – Process of Creative Destruction by Joseph Schumpeter (1942)

“Can Capitalism Survive?” Ch. 2 – Plausible Capitalism by Joseph Schumpeter (1942)

“Can Capitalism Survive?” Ch. 2 – Plausible Capitalism by Joseph Schumpeter (1942) We’ve projected average increase of total available production forward from 1928 o show the significance of past development & that it wouldn’t be shocking to see But there’s no justification for that projection/extrapolation especially so far into the future – mostly to give… Read more “Can Capitalism Survive?” Ch. 2 – Plausible Capitalism by Joseph Schumpeter (1942)

“Can Capitalism Survive?” Ch. 1 – The Rate of Increase of Total Output by Joseph Schumpeter (1942)

“Can Capitalism Survive?” Ch. 1 – The Rate of Increase of Total Output by Joseph Schumpeter (1942) Capitalism already has 2 strikes against it with a lot of people with respect to economics & cultural results In fact, it’s a breach of etiquette not to condemn it You have to point out its inadequacies &… Read more “Can Capitalism Survive?” Ch. 1 – The Rate of Increase of Total Output by Joseph Schumpeter (1942)