Final Exam #3

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Student’s name Professor’s name Course nameDate Changes Necessary in Adoption of Socialism Schumpeter outlines the necessities which must be incorporated into the society for the success of socialism to be realized. The main change to be advanced is the adoption of dictatorship instead of a democratic form of governance (Schumpeter, p.235). Schumpeter stipulates that the authoritarian form of leadership builds the group and moral aspects of socialism. Schumpeter puts forward the argument that taking socialism to be authoritarian rather than capitalism ensures that the labor force depends on the socialist power. The effect will provide room for other disciplines to be changed which could have been hard to change using capitalism. Schumpeter asserts that Authoritarian discipline is paramount in realizing increased productivity. Additionally, Schumpeter notes that the power contained in the capitalism are no longer in force hence socialism will bring restoration of power by imposing discipline on the private and public sector through monopoly and oligopoly market forces(Schumpeter, p.87). Schumpeter outlines some elements which he believes they are necessary for the change to be realized. Firstly, the authority will assume that ministries which oversee the production are working for the benefit of all the people hence the supervision of their operations will be limited. Funding of the development projects will require that the private saving is substituted by abstinence as demonstrated by Soviet Russia (Schumpeter, p.210).Secondly, Schumpeter lends support to training the youths in the society to conform to the requirements of the state. The idea will ensure that

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