Understanding Peter Drucker’s Post-Capitalist Society | Peak Prosperity

In 1993, management guru Peter Drucker published a short book entitled Post-Capitalist Society. In Drucker’s view, knowledge, not industry or finance, is now the dominant basis of wealth creation, and this transformation requires new social structures.  The old industrial-era worldview of “labor versus capital” no longer describes the key social relations or realities of the knowledge economy.

The dominant social structures that we take for granted labor and capital, and the nation-state are not immutable; rather, they are the modern-day equivalent of the late-1200s feudal society that seemed permanent to those who had known nothing else but that was already being dismantled and replaced by the Renaissance-era development of modern capitalism.

From this perspective, the nation-state is no longer indispensable to the knowledge economy, and as a result, Drucker foresaw the emergence of new social structures would arise and co-exist with the nation-state.

Drucker summed up the difference between what many term a post-industrial economy and what he calls a knowledge economy this way: “That knowledge has become the resource rather than a resource is what makes our society ‘post-capitalist.’  This fact changes fundamentally the structure of society.  The means of production is and will be knowledge.”

Source: Understanding Peter Drucker’s Post-Capitalist Society | Peak Prosperity

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