The current state of capitalism, socialism, and democracy presents an opportunity to reexamine the insightful ideas put forth by Schumpeter. Starting from Schumpeter’s book, the conference would promote an open debate on how the concepts of Capitalism, Socialism and Democracy characterise our economies and their possible evolution. Drawing on the controversies around Schumpeter’s great vision, our aim is to call for a reflection in connection with the economic, political and social complex and uncertain futures after the 2008 financial crisis, COVID-19 pandemic and Ukraine war.