Publication: Journal of Economic Education
Volume: Volume 26, No. 4
Issue: Fall 1995
Pages:
Author(s): William T. Bogart (Case Western Reserve University)
Address (Principal Author): William T. Bogart, Case Western Reserve University, 10900 Euclid Avenue, Cleveland, OH 44106-7206 (216) 368-4296
Internet Address (Principal Author):
Title: Looking Backward at Feasible Socialism: Using Bellamy to Teach Schumpeter
Abstract: This article demonstrates the parallels between Bellamy's fictional society in Looking Backward and Schumpeter's socialist blueprint Capitalism, Socialism, and Democracy. The socialist system Joseph Schumpeter describes is nearly identical to that in Edward Bellamy's utopia. Since Bellamy's society is a concrete one set within the readable confines of a novel, it provides a useful benchmark for students analyzing Schumpeter.