Both Schumpeter and ordoliberals rejected Marx’s internal-contradiction thesis of capitalism

Evidence

Schumpeter and the ordoliberals think that there is no internal contradiction in the logic of capital and its accumulation and consequently that t:apitalism is per- -_. fectly viable from an economic and purely economic point ofview. — Michel Foucault, The Birth of Biopolitics, 947

Categorization

• XREF: connects to: Schumpeter saw capitalism’s rationalization destroying the entrepreneur’s heroic social function — Mark Blyth, Austerity: The History of a Dangerous…, 350; Schumpeter claimed imperialism was a pre-capitalist remnant that capitalism would dissolve — Jessica Whyte, The Morals of the Market: Human Rights…, 255; Ordoliberalism denied an essential capitalist logic and made rival capitalisms inventable — Michel Foucault, The Birth of Biopolitics: Lectures at…, 940 (+5 more)

Broader Connections

• Ordoliberalism’s internal contradictions combined economic modernity with antimodern social ideas #complicates (0.85) — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, 506
• Ordoliberal identity was built on opposition to Marxism and Keynesianism #corroborates (0.80) — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, 528
• Ordoliberalism’s founding critique of capitalism was culturally conservative and antimodernist #corroborates (0.75) — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, 509
• Horkheimer rejected Marx and Lukács’s heroic proletariat theory for material-improvement ethics #corroborates (0.72) — Rolf Wiggershaus, The Frankfurt School, 202