Joseph Schumpeter and Dynamic Economical Change

  • by Laurence S. Moss
  • Narrated by Louis Rukeyser
  • 2 hrs and 31 mins
  • Unabridged Audiobook

Publisher's Summary

Joseph Schumpeter (1883-1950) viewed capitalism as a dynamic engine of progress. In his view, mature economic systems find a regular and stable routine of supply, demand, and exchange; Schumpeter called this the "circular flow". Entrepreneurs interrupt this circular flow with new ideas and visions about the economic future, recombining existing resources to create new and more valuable products and services. Schumpeter saw the freedom of innovation and exchange as the foundation of material progress in capitalist economies. Schumpeter called capitalism a process of "creative destruction" because it overthrows old routines and methods of production. But he recognized that this process is unstable, and therefore unsettling, for those who have become accustomed to established ways. Schumpeter predicted growing political opposition to capitalism, and a corresponding growth in socialism, in the 20th century.


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Customer Reviews

Most Helpful

great narration, too tough to understand

Can't get much better than having Louis Ruckeyser narrate a book about Schumpeter. However, I think you need to be an economist to really understand this topic as laid out in the book.
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- Andy

Dull and irritating

Would you try another book from Laurence S. Moss and/or Louis Rukeyser?

With a different narrator and style - perhaps, yes.

What could Laurence S. Moss have done to make this a more enjoyable book for you?

Learn to pronounce European names, the correct pronunciation of Schumpeter would be a start.

How did the narrator detract from the book?

Enormously. The use of

What reaction did this book spark in you? Anger, sadness, disappointment?


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- Adrian

Book Details

  • Release Date: 07-14-2006
  • Publisher: Blackstone Audio, Inc.