“Schumpeterianism” Revised: The Critique of Elites in Capitalism, Socialism and Democracy

  title={“Schumpeterianism” Revised: The Critique of Elites in Capitalism, Socialism and Democracy},
  author={Natasha Piano},
  journal={Critical Review},
  pages={505 - 529}
ABSTRACT A close reading of Capitalism, Socialism and Democracy underscores Schumpeter's critique of elite political capacities. Given the neglect of this critique in contemporary scholarship, it might warrant a revision of our understanding of “Schumpeterianism.” To notice the critique of elites, we need to read Part IV in the context of the work as a whole, and with greater sensitivity to the sarcasm, irony, and humor that permeate the book. Such a reading produces a fundamentally altered… 
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