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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
Progress
Economic
Society
Means
Mean
Turmoil
Capitalist
Economics

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To the believer Marxism presents, first, a system of ultimate ends that embody the meaning of life and are absolute standards by which to judge events and actions.
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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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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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We always plan too much and always think too little. We resent a call to thinking and hate unfamiliar argument that does not tally with what we already believe or would like to believe.
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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.
Joseph A. Schumpeter
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Those revolutions are not strictly incessant they occur in discrete rushes which are separated from each other by spans of comparative quiet. The process as a whole works incessantly however, in the sense that there always is either revolution or absorption of the results of revolution, both together forming what are known as business cycles.
Joseph A. Schumpeter
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The first thing a man will do for his ideals is lie.
Joseph A. Schumpeter
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The ballot is stronger than bullets.
Joseph A. Schumpeter
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Capitalism inevitably and by virtue of the very logic of its civilization creates, educates and subsidizes a vested interest in social unrest.
Joseph A. Schumpeter
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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.
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 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.
Joseph A. Schumpeter
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Bureaucracy is not an obstacle to democracy but an inevitable complement to it.
Joseph A. Schumpeter
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Geniuses and prophets do not usually excel in professional learning, and their originality, if any, is often due precisely to the fact that they do not.
Joseph A. Schumpeter
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To realize the relative validity of one's convictions and yet stand for them unflinchingly is what distinguishes a civilized man from a barbarian.
Joseph A. Schumpeter
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There is another method of obtaining money... It does not presuppose the existence of accumulated results of previous development, and hence may be considered as the only one which is available in strict logic. This method of obtaining money is the creation of purchasing power by banks. The form it takes is immaterial.
Joseph A. Schumpeter
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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.
Joseph A. Schumpeter
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Lack of outlets, excess capacity, complete deadlock, in the end regular recurrence of national bankruptcies and other disasters-perhaps world wars from sheer capitalist despair-may confidently be anticipated. History is as simple a that.
Joseph A. Schumpeter
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Pessimistic visions about almost anything always strike the public as more erudite than optimistic ones
Joseph A. Schumpeter
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The trouble with Russia is not that she is socialist but that she is Russia.
Joseph A. Schumpeter