Abstract
Idealogically motivated responses to the Bishops' Letter have heightened the divisiveness of subsequent dialogue at the expense of its rigor. Schumpeter's metaphor of “creative destruction” provides a vehicle for reconciliation between advocates of politics and markets. His most distinguishing characteristic of capitalism extols its productive and dynamic properties. It underscores its relentless and unmanageable side that transforms institutional structures as well. The capitalist engine is driven by a “perennial gale” that creates and destroys at the same time; thus there is a necessary role for both entrepreneurs and planners in a mixed economy. The bishops' call for collaboration is also subject to the Schumpeterian metaphor. Major process changes without new institutional forms are inconsistent with the historical experience of U.S. pluralist society.
This is a preview of subscription content, log in via an institution to check access.
Similar content being viewed by others
References
Alperovitz, G.: 1985, ‘Collaboration for Recovery’, a paper delivered at Santa Clara University Conference on ‘Catholic Social Teaching and the U.S. Economy’, Santa Clara, California, January 25–27.
Catholic Bishops: 1984, ‘Catholic Social Teaching and U.S. Economy’, Origins 14, November 15.
Freeman, E.: 1984, Strategic Management (Pitman, Boston, Mass.).
Harrington, M.: 1985, ‘Poverty in America’, a paper delivered at Santa Clara University Conference on ‘Catholic Social Teaching and the U.S. Economy’, Santa Clara, California, January 25–27.
Krauthammer, C.: 1984, ‘Perils of the Profit Motive’, New Republic, December 24, p. 10.
Lindblom, C.: 1977, Politics and Markets (Basic Books, Inc., New York, N.Y.).
Littlejohn, E.: 1985, ‘The U.S. Catholic Bishops Letter on the Economy: A Critical Appraisal’, a paper delivered at the Academy of Management Annual Meeting, San Diego, California, August 11–14.
Schumpeter, J.: 1975, Capitalism, Socialism, and Democracy (Harper Colophon books, New York, N.Y.).
Wieseltier, L.: 1985, ‘The Poor Perplex’, New Republic, January 7 and 14, p. 10.
Author information
Authors and Affiliations
Additional information
David R. Palmer is Assistant Professor of Management at Santa Clara University where he teaches courses in Business Policy and Business and Public Policy. He holds an MBA from the Harvard Graduate School of Business Administration and a Ph.D. in Business and Public Policy from the University of California, Berkeley.
Rights and permissions
About this article
Cite this article
Palmer, D.R. Schumpeter and reconciling divisive responses to the Bishops' Letter. J Bus Ethics 7, 433–436 (1988). https://doi.org/10.1007/BF00382854
Issue Date:
DOI: https://doi.org/10.1007/BF00382854