Indeed, I find it illuminating to consider to what extent our "classical conditions" for economic growth are satisfied in the current, monopolistic phase of capitalism.

If society has a technical need, that helps science forward more than ten universities.

But when reason and the study of history began revealing the irrationality, the limitations, and the merely transitory nature of the capitalist order, bourgeois ideology as a whole and with it bourgeois economics began abandoning both reason and history.

Schumpter's daring and dashing entrepreneur is now a legendary figure from the distant past - if not from the mythology of capitalism - or is to be found only in the demimonde of business, founding new ice cream parlors or "deep freeze subscription clubs".

The present Indian government, however, is neither able or willing to accept the challenge and to provide the leadership in breaking the resistance of urban and rural interests.

It has been estimated that even in the absence of net investment, the mere substitution of modern machinery for worn-out equipment in the United States would cause an annual productivity increase of approximately 1.5 percent.

The principal impact of foreign enterprise on the development of the underdeveloped countries lies in hardening and strengthening the sway of merchant capitalism, in slowing down and indeed preventing its transformation into industrial capitalism.