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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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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
Economic
Metal
Metals
Phrases
Acquire
Naturally
Steaming
Pages
Immersed
Theory
Marx
Wealth
Temperature
More quotes by Joseph A. Schumpeter
We always plan too much and always think too little.
Joseph A. Schumpeter
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.
Joseph A. Schumpeter
The intellectual and social climate needed to allow entrepreneurship to thrive will not exist in advanced capitalism.
Joseph A. Schumpeter
The ballot is stronger than bullets.
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
The first thing a man will do for his ideals is lie.
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
Creative Destruction is the essential fact about capitalism.
Joseph A. Schumpeter
The trouble with Russia is not that she is socialist but that she is Russia.
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
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
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
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
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
Economic progress, in capitalist society, means turmoil.
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
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
Pessimistic visions about almost anything always strike the public as more erudite than optimistic ones
Joseph A. Schumpeter
Can capitalism survive? No. I do not think it can.
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
