1942 SocialismCapitalismandDemocracy

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Subject Headings: Social Theory, Economic Theory, Capitalism, Socialism, Creative Destruction, Neoclassical Economics

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2013

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Abstract

But in capitalist reality as distinguished from its textbook picture, it is not that kind of competition which counts but the competition from the new commodity, the new technology, the new source of supply, the new type of organization (the largest-scale unit of control for instance) - competition which commands a decisive cost or quality advantage and which strikes not at the margins of the profits and the outputs of the existing firms but at their foundations and their very lives. This kind of competition is as much more effective than the other as a bombardment is in comparison with forcing a door, and …

References

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 AuthorvolumeDate ValuetitletypejournaltitleUrldoinoteyear
1942 SocialismCapitalismandDemocracyJoseph A. Schumpeter (1883-1950)Socialism, Capitalism and Democracy1942