In London Drucker again met Doris Schmitz, born in Mainz, whom he had gotten to know at his international law seminar at the University of Frankfurt. They married at the beginning of 1934.

Already immediately after the takeover of the National Socialists, Drucker began to record and analyse the experiences he had in Germany. In 1936 a first version was published with a Viennese publisher; then, in the spring of 1939, Drucker's analysis appeared in an enlarged edition and in English, with the title The End of Economic Man. In it, Drucker rejected the conventional models explaining the rise of fascism and National Socialism that were common then. He found the causes to lie deeper, namely in a failure not only of capitalism, but of socialism as well.

Since Adam Smith, capitalism's advocates had argued that a free and equal society could only be achieved through economic growth and development in a free economy. The credibility of this argument was lost with the First World War; in the twenties, people of industrialized countries felt themselves to be defencelessly exposed to the unpredictable forces of the free market. Subsequently, a - historically seen - rather mild depression like that of 1929 was enough to result in people finally turning away from the free economy, and with it, from democracy. Drucker also observed a failure of revolutionary socialism, which had likewise argued only economically, and after the breakdown of the Soviet experiment could no longer offer any social alternative. Fascism and National Socialism plunged into this value vacuum, promising a social order no longer dependent on economic factors. Adam Smith's "homo oeconomicus" was thereby replaced with the collective model of "heroic man", social status was no longer determined by social origin and income, but by artificially constructed hierarchies and their insignia.

>> Winston Churchill's praise of Drucker's analysis of fascism