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Article
Capitalism, Socialism and Public Choice
Libertarian Papers (2010)
  • Adrian O. Ravier, Dr., Francisco Marroquin University
Abstract

The essay examines Schumpeter’s understanding of the capitalist process and develops a critical analysis of his explanation of why capitalism cannot survive. Part I deals with how Schumpeter understood capitalism. Part II studies why –- from his point of view — capitalism couldn’t survive. Part III analysis why it is actually socialism, as a socio-political alternative, that is impractical and must collapse from contradictions inherent in it. Part IV presents some final reflections, presenting the public choice and the thought of James M. Buchanan, as an alternative to the pessimist Schumpeterian view.

Publication Date
2010
Citation Information
Adrian O. Ravier. "Capitalism, Socialism and Public Choice" Libertarian Papers Vol. 2 Iss. 26 (2010)
Available at: http://works.bepress.com/adrian_ravier/6/