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The trouble with Russia is not that she is socialist but that she is Russia.
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
Trouble
Socialist
Russia
More quotes by Joseph A. Schumpeter
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
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
Nothing is so retentive as a nation's memory.
Joseph A. Schumpeter
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.
Joseph A. Schumpeter
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
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
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.
Joseph A. Schumpeter
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
It is quite possible that future generations will look upon arguments about the inferiority of the socialist plan as we look upon Adam Smith's argument about joint stock companies which, also, were simply false.
Joseph A. Schumpeter
Can capitalism survive? No. I do not think it can.
Joseph A. Schumpeter
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
Gentlemen, a depression is for capitalism like a good, cold douche.
Joseph A. Schumpeter
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
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
Economic progress, in capitalist society, means turmoil.
Joseph A. Schumpeter
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
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
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
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.
Joseph A. Schumpeter
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.
Joseph A. Schumpeter
