Capitalism, Socialism, and Democracy | Study Guide

Joseph A. Schumpeter

Download a PDF to print or study offline.

Study Guide
Cite This Study Guide

How to Cite This Study Guide

quotation mark graphic


Course Hero. "Capitalism, Socialism, and Democracy Study Guide." Course Hero. 26 Apr. 2019. Web. 6 Aug. 2020. <>.

In text

(Course Hero)



Course Hero. (2019, April 26). Capitalism, Socialism, and Democracy Study Guide. In Course Hero. Retrieved August 6, 2020, from

In text

(Course Hero, 2019)



Course Hero. "Capitalism, Socialism, and Democracy Study Guide." April 26, 2019. Accessed August 6, 2020.


Course Hero, "Capitalism, Socialism, and Democracy Study Guide," April 26, 2019, accessed August 6, 2020,

Capitalism, Socialism, and Democracy | Part 5, Prologue : A Historical Sketch of Socialist Parties (Prologue) | Summary



Schumpeter's brief Part 5 Prologue acknowledges that it is "not for me to write a history of the socialist parties." Instead, he offers a brief sketch, which he acknowledges is necessary to put into perspective a lot of his preceding judgments and insights. He also acknowledges that his sketch puts an emphasis on Marxist parties that some may find objectionable. He highlights these parties, nevertheless, because he is fascinated by the close relation of socialist policy to "doctrinal basis" in Marxism.


This short chapter is a simple introduction that justifies two choices: to include a historical sketch (that is, a brief, tentative account) of the socialist parties of the industrial world and to emphasize the Marxist parties in this analysis. The former is a welcome admission that he does not intend to be perfectly expansive or vigorous in his assessment of the parties. His admission anticipates many possible criticisms of his accounts. The latter choice is justified anyway by Schumpeter's interest in discussing Marx as the earlier portions of his book.

Cite This Study Guide

information icon Have study documents to share about Capitalism, Socialism, and Democracy? Upload them to earn free Course Hero access!

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes