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Klukie

(2,237 posts)
Fri Mar 9, 2012, 05:11 PM Mar 2012

Creative Destruction is rooted in the Marxist economic theory

It is rooted in the Marxist Theory and later tweaked by a guy named Joseph Shumpeter.

Shumpeter believed that capitalism couldn't survive.


http://en.wikipedia.org/wiki/Creative_destruction

Creative destruction is a term originally derived from Marxist economic theory which refers to the linked processes of the accumulation and annihilation of wealth under capitalism. These processes were first described in The Communist Manifesto (Marx and Engels, 1848)[1] and were expanded in Marx's Grundrisse (1857)[2] and "Volume IV" (1863) of Das Kapital.[3] At its most basic, "creative destruction" (German: schöpferische Zerstörung) describes the way in which capitalist economic development arises out of the destruction of some prior economic order, and this is largely the sense implied by the German Marxist sociologist Werner Sombart who has been credited[4] with the first use of these terms in his work Krieg und Kapitalismus ("War and Capitalism", 1913).[5] In the earlier work of Marx, however, the idea of creative destruction or annihilation (German: Vernichtung) implies not only that capitalism destroys and reconfigures previous economic orders, but also that it must ceaselessly devalue existing wealth (whether through war, dereliction, or regular and periodic economic crises) in order to clear the ground for the creation of new wealth.

From the 1950s onwards, the term "creative destruction", sometimes known as "Schumpeter's gale" (see below), has become more readily identified with the Austrian-American economist Joseph Schumpeter,[4] who adapted and popularized it as a theory of economic innovation. In Capitalism, Socialism and Democracy (1942), he developed the concept out of a careful reading of Marx’s thought (to which the whole of Part I of the book is devoted), arguing (in Part II) that the creative-destructive forces unleashed by capitalism would eventually lead to its demise as a system (see below).[6] Despite this, the term subsequently gained popularity within neoliberal or free-market economics as a description of processes such as downsizing in order to increase the efficiency and dynamism of a company.



http://en.wikipedia.org/wiki/Capitalism,_Socialism_and_Democracy

Part II: Can Capitalism Survive?

Schumpter answers "no" in the prologue to this section. But he says, “If a doctor predicts that his patient will die presently,” he wrote, “this does not mean that he desires it.” The section consists of 100 pages with the following ten topics: The Rate of Increase of Total Output, Plausible Capitalism, The Process of Creative Destruction, Monopolistic Practices, Closed Season, The Vanishing of Investment Opportunity, The Civilization of Capitalism, Crumbling Walls, Growing Hostility, and Decomposition. Of these, Creative destruction has been absorbed into standard economic theory. This section constructs a view of capitalism which ultimately tends toward corporatism which, he suggests, will be its own undoing.

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Creative Destruction is rooted in the Marxist economic theory (Original Post) Klukie Mar 2012 OP
K&R Marxist political economy is misundertstood, even at a place like DU and is vital to grasping Puregonzo1188 Mar 2012 #1
Du rec. Nt xchrom Mar 2012 #2
K&R! white_wolf Mar 2012 #3
Do NOT be mistaken. Much of the rulebook for....... socialist_n_TN Mar 2012 #4
Yeah...I am coming to realize that the more I read. I just think that this deserves some exposure.. Klukie Mar 2012 #5
What you said Klukie. It DOES need exposure........... socialist_n_TN Mar 2012 #6
rec KG Mar 2012 #7
K&R Schumpter was a prophet. Odin2005 Mar 2012 #8

Puregonzo1188

(1,948 posts)
1. K&R Marxist political economy is misundertstood, even at a place like DU and is vital to grasping
Fri Mar 9, 2012, 06:20 PM
Mar 2012

the current situation.

socialist_n_TN

(11,481 posts)
4. Do NOT be mistaken. Much of the rulebook for.......
Sat Mar 10, 2012, 01:11 AM
Mar 2012

neoliberalism was written by Marx. Anyone ever heard of the surplus army of labor? They take the ideas of Marxism that concentrate the wealth as gospel. Not so much, the remedies prescribed by him.

Klukie

(2,237 posts)
5. Yeah...I am coming to realize that the more I read. I just think that this deserves some exposure..
Sat Mar 10, 2012, 09:11 AM
Mar 2012

since Romney will most likely be the nominee and will run on an economic platform.

socialist_n_TN

(11,481 posts)
6. What you said Klukie. It DOES need exposure...........
Sat Mar 10, 2012, 11:43 AM
Mar 2012

It's part of the way the owners divide us and demonize Marxism while using the rules he discovered. Now we just need to expose people to his remedies too.

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