Quarterly Journal
OeconomiA copernicana 2016 Volume 7 Issue 1, March p-ISSN 2083-1277, e-ISSN 2353-1827 www.oeconomia.pl Śledzik, K. (2016). “Fettered” and “Unfettered” Capitalism in J.A. Schumpeter’s Concept of Tax State and Economic Development – Issues in Banking Perspective. Oeconomia Copernicana, 7(1), 23-33. DOI: http://dx.doi.org/10.12775/OeC.2016.002
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Karol Śledzik
University of Gdańsk, Poland
“Fettered” and “Unfettered” Capitalism in J.A. Schumpeter’s Concept of Tax State and Economic Development – Issues in Banking Perspective JEL Classification: A13; B15; K20; P20 Keywords: Schumpeter; capitalism; Tax State; economic development; banking Abstract: Economic development and transformation processes have become much more intense in economic reality in the last years than they have ever been before. At this time a lot of questions were raised about the causes of the actual Global Crisis, future crises, the factors affecting the modern economy, about the essence of contemporary capitalism, demographic problems and overgrown bureaucracy. The most spectacular threat to capitalism, (based on private entrepreneurship) according to Schumpeter, stems from the high, growing and progressive taxation. Schumpeter saw clearly that the financing of public goods and services (requiring taxes, maybe even relatively high) is something other than a clerical control of the economic system that violates the natural economic mechanism. Moreover, Schumpeter says explicitly that an entrepreneur does not have to be one person, he even states that the country (state) itself, or its agenda, can act as an © Copyright Institute of Economic Research Date of submission: March 13, 2015; date of acceptance: November 27, 2015 ∗ Contact: karol.sledzik@ug.edu.pl, Faculty of Management, University of Gdańsk, ul Armii Krajowej 101, 81-824 Sopot, Poland