WILL CAPITALISM DESTROY ITSELF?

I'm referring to the modern American conservatives view of Capitalism as promoting individual freedom and their reliance on the Free Market Fairy to work out the social effects.  Joseph Schumpeter, an economist of the Austrian school, in Capitalism, Socialism and Democracy (1942), predicted that capitalism's emphasis on the individual would lead to the collapse of the social values that make capitalism possible.  This interpretation of the capitalist ethos  makes some defenses of capitalism seem close to defenses of anarchism and Max Stirner (1806-56) was the first to draw the logical conclusions from the emphasis placed on capitalistic individual freedom:

The affinity between Stirner and the anarchist tradition lies in his endorsement of the claim that the state is an illegitimate institution....The cumulative effect of a growing egoistic disrespect for law, he suggests, would be to ‘scuttle’ the ‘ship of state’. (54) Anarchists influenced by Stirner's individualism and his suspicion of the state can be found in several European countries. However, his best-known anarchist admirers were in America, in the circle which formed around Benjamin R. Tucker (1854–1939) and the remarkable journal Liberty (founded in 1881).