A tendency towards self-destruction
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Schumpeter was describing 2020s in 1947:
'Perhaps the most striking feature of the picture is the extent to
which the bourgeoisie, besides educating its own enemies, allows
itself in turn to be educated by them.
It absorbs the slogans of current radicalism & seems quite willing to
undergo a process of conversion to a creed hostile to its very
existence.'
(From Can Capitalism survive?, Ch. X. Decomposition, by Joseph
Schumpeter.)
A rather scary book.
Tags: quote
Authors: ag