3 A summary account of this type fails, however, to do justice to the making of Capitalism, Socialism and Democracy in at least two important ways. This entry gives a brief account of what is meant by the term “capital” before going on to say what is meant by the concept “capitalism.” A necessary preliminary step toward defining the concept of “capitalism” is to define the concept of “capital.” This said, it is surprising how often this preliminary step is not taken. Capitalism, Socialism and Democracy remains one of the greatest works of social theory written this century. Enter the email address you signed up with and we'll email you a reset link. Schumpeter’s attention in Capitalism, Socialism and Democracy is single-mindedly focussed on one question: under what conditions can creative and ef- ........................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................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