Capitalism, Socialism and Democracy

“The demise of capitalism has more to do with the growing weakness of the bourgeoisie than the growing strength of their opponents.” Why does Schumpeter believe the bourgeoisie will grow weak? In what ways will capitalism destroy itself?

To what extent is Marxism a religion? How does it conceal this?

Will there always be role for leaders and innovators within capitalism? Discuss with reference to Part 2 of the text.

How does capitalism require the support of non-rational and non-capitalist forces to survive?

“Bureaucracy might be unavoidable in modern industrial society, but we should still strive to minimise its extent and power.” What role can bureaucracy play in socialism? Why does Schumpeter feel that it can be a positive force in spite of its bad rap?

In what way does Schumpeter agree with Marx’s theories about socialism. How does he deviate? How do each believe that capitalism will end?

What is the difference between utopian socialism and Marxist socialism? Why does utopian socialism fall short in Schumpeter’s view, and in what ways does is it have value?

Does Schumpeter underestimate the role of financial incentives in his account of socialism? Why or why not?