Economics Dictionary of Arguments

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Karl Marx: Karl Marx (1818 – 1883) was a German philosopher and economist whose ideas played a major role in the development of modern political and economic thought, as well as the socialist and communist movements. His major works include The Communist Manifesto, Das Kapital, and Critique of the Gotha Programme. See also Marxism, Communism, Socialism, F. Engels, Economic systems.
Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments.

Author Concept Summary/Quotes Sources

Joseph A. Schumpeter on Marx - Dictionary of Arguments

Brocker I 251
Marx/Schumpeter: Schumpeter states that Karl Marx's "practical power of judgement", even his "political method", was based on "diagnostic errors" and "wishful thinking". (1) There are also more friendly comments by Schumpeter about the scientist Marx.
Marx had above all asked the right questions and developed a multidisciplinary vision that focused on a "process of incessant change in the economic structure" (2).
Brocker I 252
SchumpeterVsMarx: Schumpeter criticizes Marx, which he also criticizes in Ricardo and Keynes: that their scientific statements are calculated for political effect (and thus disguise the scientific content, making it difficult to criticize him constructively). But to preach in the dress of the analyst and analyze with a view to the needs of the heart, this created a passionate following and gave the Marxist that greatest gift which consists in the conviction that "what one is and what one stands for will never fail, but will ultimately be victorious" (3).
Brocker I 253
Economy/Marx/Schumpeter: Schumpeter pro Marx: he was not satisfied with the usual buzzwords of overreaching or cheating, but analyzed exploitation as something that resulted from the own logic of capital, independent of the intentions of the individual. (4)

1. Joseph A. Schumpeter, Capitalism, Socialism and Democracy, New York 1942. Dt.: Joseph A. Schumpeter, Kapitalismus, Sozialismus und Demokratie, Tübingen/Basel 2005 (zuerst: Bern 1946). Insbesondere der Schlussteil des Buches.
2. Ibid. p. 54
3. Ibid. p. 21.
4. Ibid. p. 51

Ingo Pies, „Joseph A. Schumpeter, Kapitalismus, Sozialismus und Demokratie (1942)“ in: Manfred Brocker (Hg.) Geschichte des politischen Denkens. Das 20. Jahrhundert. Frankfurt/M. 2018.

Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments
The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.

EconSchum I
Joseph A. Schumpeter
The Theory of Economic Development An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle, Cambridge/MA 1934
German Edition:
Theorie der wirtschaftlichen Entwicklung Leipzig 1912

Brocker I
Manfred Brocker
Geschichte des politischen Denkens. Das 20. Jahrhundert Frankfurt/M. 2018

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