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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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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
Dues
Professional
Usually
Excel
Genius
Geniuses
Learning
Prophets
Fact
Originality
Often
Precisely
Facts
Prophet

More quotes by 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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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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Gentlemen, a depression is for capitalism like a good, cold douche.
Joseph A. Schumpeter
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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.
Joseph A. Schumpeter
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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.
Joseph A. Schumpeter
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We always plan too much and always think too little.
Joseph A. Schumpeter
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All we can thus far say about the duration of the units of [the business cycle] and each of [its] two phases is that it will depend on the nature of the particular innovations that carry a cycle,... and the financial conditions and habits prevailing in the business community in each case.
Joseph A. Schumpeter
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The intellectual and social climate needed to allow entrepreneurship to thrive will not exist in advanced capitalism.
Joseph A. Schumpeter
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Why should we stunt our ambitions and impoverish our lives in order to be insulted and looked down upon in our old age?
Joseph A. Schumpeter
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Democracy is a political method, that is to say, a certain type of institutional arrangement for arriving at political — legislative and administrative — decisions and hence incapable of being an end in itself.
Joseph A. Schumpeter
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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.
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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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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Politicians are like bad horsemen who are so preoccupied with staying in the saddle that they can't bother about where they're going.
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 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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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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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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Creative Destruction is the essential fact about capitalism.
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