**Capitalism, Socialism, and Democracy** is a book on economics, sociology, and history by Joseph Schumpeter, arguably one of—if not his most—famous, controversial, and important works. It’s also one of the most famous, controversial, and important books on social theory, social sciences, and economics—in which Schumpeter deals with capitalism, socialism, and creative destruction. It is the third most cited book in the social sciences published before 1950, behind Marx’s Capital and The Wealth of Nations by Adam Smith. (Source: [Wikipedia](https://en. wikipedia. org/wiki/Capitalism,_Socialism_and_Democracy))