Quarterly Journal of Austrian Economics
Author:
Matthew McCaffrey
Online Publish Date:
Volume 12, No. 2 (2009) This paper seeks to explore and to critically evaluate, from an economic standpoint, Joseph Schumpeter’s theory of the decline of capitalism, as put forward in his Capitalism, Socialism, and Democracy . It begins by exploring and criticizing Schumpeter’s entrepreneurial theory, and then explains how this flawed