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Schumpeter's critique of Marx: A reappraisal
Author(s) -
GRAHAM KEITH
Publication year - 1993
Publication title -
european journal of political research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 3.267
H-Index - 95
eISSN - 1475-6765
pISSN - 0304-4130
DOI - 10.1111/j.1475-6765.1993.tb00357.x
Subject(s) - capitalism , socialism , neoclassical economics , democracy , politics , state socialism , economics , state (computer science) , position (finance) , public ownership , sociology , economic system , market economy , law , political science , communism , finance , algorithm , computer science
. The paper provides an account of Marx's position of Schumpeter's three categories: capitalism, socialism and democracy. Marx's conception of capitalism is established as more wide‐ranging than sometimes thought, covering any form of society where commodities predominate, and implying a polarized class structure independent of considerations of manual or lowly labour. It is not therefore essentially a political conception, nor does its application turn on the question of private ownership. Socialism, for Marx, involves the abolition of commodities and therefore of money and the wages system. Accordingly, his conception of socialism is not one of state ownership or nationalization, as Schumpeter claims. His commitment to democracy arises from the nature of socialist society and sets him apart from vanguardist political theory. It is therefore more deeply‐rooted than Schumpeter suggests.