在蘇東波變天，中韓越三共黨國家倡導開放改革政策，開始擁抱資本主義之後，我們重新閱讀出版已超過半個世紀之久，熊彼得的鉅作《資本主義、社會主義與民主政治》(1942)，不能不引起另類的思考，而加以慎思明辨。熊氏視資本主義為經濟結構內不斷產生革命，導致新商品、新技術、新市場出現的組織，這是一種創造性的破壞之機制。資本主義的成功反而破壞了保護它的社會制度，而使資本主義走向最終的式微。其理由是科技創新與生產劇變，使資本家的創意枯竭。同時資本家賺錢、聚斂、傳宗接代的意願逐漸消失，乃至企業精神終告萎縮。至於民主政治不過是領袖之間的競爭，但其競爭的輸贏卻繫於民眾贊否的投票。是故良好素質的政治家、有效率的官僚體系、人民與反對黨對政府施政靈敏的反應，以及不同意見和利益的容忍是構成民主的要件。歷史上資本主義與民主政治的崛起關聯密切。熊氏為在資本主義中個別企業家所扮演創新的角色，其後逐漸由龐大的公司行號眾多的經理人員所分擔，這種集體的管理方式有利於資本主義轉變為社會主義。要之，熊氏認為社會主義與民主是可以相輔相成的。 本文在評析其著作之餘，指出他對資本主義與社會主義體制的論述有其精闢的一面，但也有囿於一偏之見的另一方面。

The disintegration of the former Soviet block and the introduction of market economy to China, Vietnam and North Korea in the last decades has shocked the whole world and signified the downfall of world communist movement. At this juncture it would be enlightening to take another look at the ideas of Joseph Schumpter’s (1883-1950) in his highly controversial book Capitalism, Socialism and Democracy (first published in 1942). This short essay deals with his conceptions of capitalism and socialism and these two socio-economic formations to democracy. For Schumeter, the very success of capitalism foresaw its ultimate demise. It unleased the capacity and process of a creative destruction which eventually energized the vitality, imagination and innovation of the bourgeoisie. As the result of drastic changes in technology and corporate organization, capitalist, creativity passed into the hand of numerous managers and thus paved the way for a structural transformation of capitalism to socialism. The simultaneous rise of capitalism and democracy in the Western world manifested the close relationship between these two systems. However, socialism is not hostile to and incompatible with democracy prosper in a future socialist country, though not in any actually existing socialism. In conclusion this article evaluates Schumpeter’s work by pointing out its merits as well as its deficiencies.