Wednesday, October 6, 2010

Civilizations die from what??

Schumpeter's theory is that the success of capitalism will lead to a form of corporatism and a fostering of values hostile to capitalism.... The intellectual and social climate needed to allow entrepreneurship to thrive will not exist in advanced capitalism; it will be replaced by socialism in some form.

Schumpeter emphasizes throughout this book that he is analyzing trends...
From Wikipedia, the free encyclopedia: Joseph Schumpeter (27 Sept 2010)

In Schumpeter's view it is the success of capitalism that leads to the demise of capitalism. Or as Toynbee put it, "Civilizations die from suicide."

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