Schumpeter predicted capitalism’s end from entrepreneurial decline.

Evidence

Although Davies links Coase and Schumpeter to the contextual changes in competition policies that have been employed since the late 1970s, he remains silent on the paradox of the Schumpeter revival. After all, Schumpeter foresaw the end of capitalism due to the inevitable decline of entrepreneurship in managerial capitalism. — Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, 263

Categorization

• DEFINE: Establishes Schumpeter’s core decline thesis against which the neoliberal revival must be read.
• XREF: connects to: Schumpeter traced capitalism’s crises to a distinctive capital structure. — Mark Blyth, Austerity: The History of a Dangerous…, 322; Schumpeter explained austerity’s failure through the bureaucratization of large firms — Mark Blyth, Austerity: The History of a Dangerous…, 349; Schumpeter saw capitalism’s rationalization destroying the entrepreneur’s heroic social function — Mark Blyth, Austerity: The History of a Dangerous…, 350 (+6 more)

Broader Connections

• Schumpeter expected giant bureaucracies to end capitalism by crowding out entrepreneurs #corroborates (1.00) — Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, 272
• Neoliberal thinkers reframed corporate wage-labor as entrepreneurial to counter Schumpeterian decline fears. #responds-to (0.85) — Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, 284
• Schumpeter predicted socialism via competition’s centralizing effects, not capital’s contradictions #qualifies (0.85) — Michel Foucault, The Birth of Biopolitics, 949
• Corporate capitalism arose from a long decline of entrepreneurial and proletarian phases #expands (0.80)
• The 1970 MPS conference ended Schumpeterian pessimism about entrepreneurship #responds-to (0.80) — Dieter Plehwe, Quinn Slobodian & Philip Mirowski (eds.), Nine Lives of Neoliberalism, 290