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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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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
Ones
Nations
Thing
Would
Vigorous
Poorest
Display
Effective
Demand
More quotes by Joseph A. Schumpeter
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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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
Pessimistic visions about almost anything always strike the public as more erudite than optimistic ones
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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 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.
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 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
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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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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Creative Destruction is the essential fact about capitalism.
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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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Bureaucracy is not an obstacle to democracy but an inevitable complement to it.
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
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
Can capitalism survive? No. I do not think it can.
Joseph A. Schumpeter
Economic progress, in capitalist society, means turmoil.
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
The first thing a man will do for his ideals is lie.
Joseph A. Schumpeter
The perennial gale of creative destruction
Joseph A. Schumpeter
