“Schumpeter was the most farsighted of twentieth-century economists. His focus on capitalism and creative destruction made him the prophet of globalization.” — The Nation

In this new addition to the Harper Perennial Modern Thought series, preeminent economist Joseph Schumpeter, author of Capitalism, Socialism, and Democracy, offers his celebrated answer to question everyone is now asking: Can Capitalism Survive? His answer: “No. I do not think it can.” Learn his fascinating reason why in this book of philosophy, considered by many economists to be the finest analysis of capitalism ever written.

Considered by many economists to be the finest analysis of capitalism ever written, Can Capitalism Survive? introduces Joseph A. Schumpeter's theory of "creative destruction," stating that in capitalist economies new innovations erode the position of established firms while also providing new and previously unforeseen avenues of economic growth. Today the effects of such advancements as Mp3s—replacing CDs, which in turn had replaced cassettes and vinyl records—have proven his ideas correct. Prophetically arguing that capitalist societies are also subject to "perennial gales" of destruction that wipe away fortunes, this great economist revealed the vast, often chaotic economic landscape of world capitalism. First published in Schumpeter's classic Capitalism, Socialism and Democracy, here is an invaluable guide the global economy.

“The greatest defense of capitalist, European civilization ever penned. . . . Schumpeter did more than anyone to persuade American leaders to preserve the capitalist system”