Schumpeter, the New Deal, and Democracy

  title={Schumpeter, the New Deal, and Democracy},
  author={John Medearis},
  journal={American Political Science Review},
  pages={819 - 832}
  • John Medearis
  • Published 1 December 1997
  • Economics, History
  • American Political Science Review
Joseph Schumpeter is known to American political scientists as the originator of an elite conception of democracy as a political “method,” a conception found in his Capitalism, Socialism and Democracy (1942). But I show in this paper that in Schumpeter's study of the development of liberal capitalist societies, he also treated democracy as a socially transformative historical tendency, one of several that he thought were propelling such societies toward a form of “democratic” socialism… 

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