- Capitalism and Alternatives -

Schumpeterís prediction that capitalism would collapse

Posted by: Gee ( si ) on April 30, 1999 at 16:46:30:

I know its easy to pick out a quotation and ask for opinions, but its fun!

"Postrel mentions Joseph Schumpeterís famous prediction that capitalism would collapse because of its very success, creating so much wealth and leisure that it would spawn a large class of idlers who would spend their time decrying its imperfections and destroying its foundations. Postrel puts a new twist on Schumpeterís gloomy prediction. He feared the ascendancy of the redistributionist intellectual, but she shows that the greater menace is turning out to be the anti-progress intellectual."

From a book review.

What are youre reactions? There have been 'victim of its own success' predictions about capitalism around for some time in academic works.

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