Evolutionary Economic Growth

Into the Schumpeter Assumptions on Equality and Efficiency


Current political concerns over egalitarianism, equality among genders, race, class, and creed warrant a further look at capitalism, which is being challenged by socialist thinkers amidst a world conforming to socialist democracy. The question regards a two part analysis of the current and proposed systems. While capitalism is a monetary system, that arguably supports income inequality, it is also consistent with an ideology, independence. Socialism is a monetary structure with an ideology comprised of varying degrees of co-dependant behavior. With capitalism, we can keep independence as an ideology and practice coexistence, or with socialism we can practice co-dependance and these are strong words with a necessary distinction. Schumpeter predicted the end of capitalism would bring rise to socialism. In this original work I theorize that Schumpeter’s evolutionary component of economic growth has been overlooked and that capitalism can be saved through minimalism and conservativism in a new social contract. In part II, From Schumpeter To Modern Captalist Egalitarianism, I propose that Schumpter has leading arguments to the needs of a growing population with respect to density equilibrium and scarce resources. I propose that capitalism is a healthier system than socialism and push the importance of comparative advantage as it plays out socially and materially as an ideology and a monetary system. This work is in progress and working papers will be found here.

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