Joseph Schumpeter's Two Theories of Democracy - Tapa dura

This is the first book-length study of Schumpeter's influential theory of democracy. Contrary to received views, Medearis argues that Schumpeter held two views of democracy; the well-known account of democracy as a method of rule by elites who gain power through competitive elections, and a second, transformative vision of the democratization of all spheres of life, including the economy, by replacing hierarchal structures of authority with egalitarian and participatory structures...The book is important not only for students of Schumpeter's thought but also for democratic theory generally as it defends a radical vision of democracy rooted in the democratic socialist projects of the late-19th and early 20th centuries...Recommended.--J. D. Moon"Choice" (02/01/2002) As Thomas McGraw's comprehensive and well-written biography convincingly shows, Schumpeter succeeded in becoming the "prophet of innovation" by pioneering the vision of a superproductive world of continuing competitive struggle in a nexus of more or less open financial and economic markets. It's never easy to make economics come alive on the page, particularly for readers not steeped in the discipline, but McGraw does his best to balance rigor and accessibility. He gives careful attention to the various elements of Schumpeter's life, focusing, naturally, on his work...McCraw's biography is a major step toward Schumpeter's restoration in the pantheon of modern economists.--Victor Zarnowitz"Conference Board Review" (07/01/2007)

This volume offers a full-length treatment of Joseph Schumpeter's political thought. Schumpeter's theory of democracy as a competition among elites has influenced several generations of political scientists, this book shows that Schumpeter also conceived of democracy as a powerful transformative tendency leading toward the establishment of democratic socialism. Deploring this prospect, he theorized elite-dominated forms of society in which democratic change could be reined in. The contrasts between the two perspectives are striking. The neglected transformative view, which this book expounds, stressed the importance of democratic beliefs and ideology, whereas the elite conception minimized their significance. The transformative perspective highlighted the radicalizing, dynamic effects of movements that attempt to realize democratic values and act upon democratic ideologies, while the better-known elite model depicted democracy in static terms and as institutionally stable. Despite the sharp contrasts, both perspectives were part of Schumpeter's complex and deeply conservative response to political change in his lifetime. Precisely because he viewed democracy as a potent transformative social force, he laboured strenuously to theorize a form of society in which elites could restrain the pace and nature of democratic change.