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Gentlemen, a depression is for capitalism like a good, cold douche.

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
Good
Like
Douche
Douches
Gentlemen
Gentleman
Depression
Capitalism
Cold

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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?
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The perennial gale of creative destruction
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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.
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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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Can capitalism survive? No. I do not think it can.
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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.
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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.
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Bureaucracy is not an obstacle to democracy but an inevitable complement to it.
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The typical citizen drops down to a lower level of mental performance as soon as he enters the political field. He argues and analyzes in a way which he would readily recognize as infantile within the sphere of his real interests. He becomes primitive again.
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We always plan too much and always think too little.
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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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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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The ballot is stronger than bullets.
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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.
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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 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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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.
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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.
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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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Politicians are like bad horsemen who are so preoccupied with staying in the saddle that they can't bother about where they're going.
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