Capitalism Will (Eventually) Displace Imperialism
[This is the most important excerpt of Joseph Schumpeter’s 1918 book The Sociology of Imperialisms. He examines the history of empire in its many iterations and takes on the Marxist theory the capitalism and imperialism are linked. He rejects that view, and argues the exact opposite. Capitalism, built on a social structure of trade and mutual benefit, is anti-imperialist. All classes discover greater benefit from economic engagement than they could ever gain through conquest, violence, and pillaging. War itself, writes Schumpeter, is like nationalism itself, an old-world holdover from the age of autocracy, and all social, political, and economic forces are gradually working toward its elimination.
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