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- 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 Schumpeter
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- “The first thing a man will do for his ideal is lie” ― Joseph 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.”
- “History is a record of "effects" the vast majority of which nobody intended to produce.” ― Joseph 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 Alois Schumpeter.
- At the heart of capitalism is creative destruction. Joseph A. Schumpeter. Heart, Creative, Destruction.
- The function of entrepreneurs is to reform or revolutionize the pattern of production by exploiting an invention or, more generally, an untried technological possibility for producing a new commodity or producing an old one in a new way, by opening up a new source of supply of materials or a new outlet for products, by reorganizing an industry and so on.
- Innovation is the market introduction of a technical or organisational novelty, not just its invention. Joseph A. Schumpeter. Innovation, Novelty, Invention.
- Profit is the payment you get when you take advantage of change. Joseph A. Schumpeter. Advantage, Profit, Payment.
Jun 9, 2024 · Schumpeter always argued that capitalism, as an intrinsically amoral economic system driven by the pursuit of profit, dissolvent of all barriers to market calculation, depended critically on pre-capitalist - in essence nobiliary - values and manners to hold it together as social and political order.
- The capitalist engine is first and last an engine of mass production which unavoidably also means production for the masses. . . . It is the cheap cloth, the cheap cotton and rayon fabric, boots, motorcars and so on that are the typical achievements of capitalist production, and not as a rule improvements that would mean much to the rich man.
- 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.
- At the heart of capitalism is creative destruction. Joseph A. Schumpeter. Heart, Creative, Destruction.
- Creative Destruction is the essential fact about capitalism. Joseph A. Schumpeter. Creative, Essentials, Facts.
May 10, 2023 · In Capitalism, Socialism and Democracy (Schumpeter 1950), he offered a complex, multifaceted argument that the type of capitalism he had earlier described might be passing from the historical scene, morphing by small degrees into some variety of socialism.
Quotes from Joseph A. Schumpeter's Capitalism, Socialism, and Democracy. Learn the important quotes in Capitalism, Socialism, and Democracy and the chapters they're from, including why they're important and what they mean in the context of the book.
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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.
