Observations on Capitalism and Government–Society Relations: A Retrospective on Schumpeter’s Capitalism, Socialism, and Democracy


Gordon E. Shockley is an assistant professor of social entrepreneurship in the School of Community Resources and Development at Arizona State University. His teaching and research interests include nonmarket entrepreneurship and the politics, economics, and sociology of the arts and humanities. He recently co-edited, with Peter Frank and Roger Stough, Non-Market Entrepreneurship: Interdisciplinary Approaches (Edward Elgar, 2008).


Joseph A. Schumpeter, Capitalism, Socialism, and Democracy (New York: Harper & Row, 1950). 431 pp.