"Schumpeterianism" Revised: The Critique of Elites in Capitalism, Socialism and Democracy. Issue 4 (2nd October 2017)

• Record Type: Journal Article
• Authors: Piano, Natasha
• Is Part Of: Critical review. Volume 29:Issue 4(2017)
• Page Start: 505
• Page End: 529
• Publication Date: 2017-10-02
• Subjects: democratic elitism -- elites -- masses -- minimalism -- political elites -- Schumpeter -- Schumpeterianism; Libertarianism -- United States -- Periodicals; 320.512
• DOI: 10.1080/08913811.2017.1458501
• Languages: English
• ISSNs: 0891-3811

Abstract

ABSTRACT: A close reading of Capitalism, Socialism and Democracy underscores Schumpeter's critique of elite political capacities. Given the neglect of this critique in contemporary scholarship, it might warrant a revision of our understanding of "Schumpeterianism." To notice the critique of elites, we need to read Part IV in the context of the work as a whole, and with greater sensitivity to the sarcasm, irony, and humor that permeate the book. Such a reading produces a fundamentally altered understanding of Schumpeter's contribution to democratic theory.