Asked by Chris Gonzalez on Jun 20, 2024

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Which of these theorists argued capitalist society can only progress or evolve by destroying outdated elements?

A) William Graham Sumner
B) Lester F. Ward
C) Thorstein Veblen
D) Joseph Schumpeter

Capitalist Society

is a socio-economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods determined mainly by competition in a free market.

Joseph Schumpeter

An economist and political scientist known for his theories on economic development and capitalism, particularly the concept of "creative destruction."

  • Acquire knowledge about social Darwinism, its advocates, and its critics.
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KE
Kokou EklouJun 27, 2024
Final Answer :
D
Explanation :
Joseph Schumpeter proposed the theory of "creative destruction," arguing that capitalism can only progress by destroying outdated industries and replacing them with newer, more efficient ones. He believed that this process of destruction and renewal was necessary for sustained economic growth.