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Economic progress, in capitalist society, means turmoil.

Joseph A. Schumpeter

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Joseph A. Schumpeter
Age: 67 †
Born: 1883
Born: February 8
Died: 1950
Died: June 21
Anthropologist
Book Collector
Economist
Jurist
Political Scientist
Professor
Mexico City
Mexico
Josef Aloys Schumpeter
Joseph Alois Schumpeter
Means
Mean
Turmoil
Capitalist
Economics
Progress
Economic
Society

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The intellectual and social climate needed to allow entrepreneurship to thrive will not exist in advanced capitalism.
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Situations emerge in the process of creative destruction in which many firms may have to perish that nevertheless would be able to live on vigorously and usefully if they could weather a particular storm.
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For the duration of its collective life, or the time during which its identity may be assumed, each class resembles a hotel or an omnibus, always full, but always of different people.
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Nothing is so retentive as a nation's memory.
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Pessimistic visions about almost anything always strike the public as more erudite than optimistic ones
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Can capitalism survive? No. I do not think it can.
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The capitalist achievement does not typically consist in providing more silk stocking for queens but in bringing them within the reach of factory girls in return for a steadily decreasing amount of effort.
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The success of everything depends on intuition, the capacity of seeing things in a way which afterwards proves to be true, even though it cannot be established at the moment, and of grasping the essential fact, discarding the unessential, even though one can give no account of the principles by which this is done.
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Want and effective demand are not the same thing. If they were, the poorest nations would be the ones to display the most vigorous demand.
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Bureaucracy is not an obstacle to democracy but an inevitable complement to it.
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The religious quality of Marxism also explains a characteristic attitude of the orthodox Marxist toward opponents. To him, as to any believer in a Faith, the opponent is not merely in error but in sin. Dissent is disapproved of not only intellectually but also morally. There cannot be any excuse for it once the Message has been revealed.
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Capitalism stands its trial before judges who have the sentence of death in their pockets. They are going to pass it, whatever the defense they may hear the only success victorious defense can possibly produce is a change in the indictment.
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The very foundation of private property and free contracting wears away in a nation in which its most vital, most concrete, most meaningful types of private property and free contracting disappear from the moral horizon of the people.
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The evolution of the capitalist style of life could be easily - and perhaps most tellingly - described in terms of the genesis of the modern Lounge Suit.
Joseph A. Schumpeter
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Gentlemen, a depression is for capitalism like a good, cold douche.
Joseph A. Schumpeter
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The perennial gale of creative destruction
Joseph A. Schumpeter
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The spirit of a people, its cultural level, its social structure, the deeds its policy may prepare—all this and more is written in its fiscal history, stripped of all phrases. He who knows how to listen to its message here discerns the thunder of world history more clearly than anywhere else.
Joseph A. Schumpeter
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We always plan too much and always think too little.
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For one thing, to predict the advent of big business was considering the conditions of Marx's day an achievement in itself.
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The metal of economic theory is in Marx's pages immersed in such a wealth of steaming phrases as to acquire a temperature not naturally its own.
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