Joseph A. Schumpeter
Joseph A. Schumpeter
Joseph Alois Schumpeter was an Austrian-born American economist and political scientist. He briefly served as Finance Minister of Austria in 1919. In 1932 he became a Professor at Harvard University where he remained until the end of his career. One of the most influential economists of the 20th century, Schumpeter popularized the term "creative destruction" in economics...
NationalityAmerican
ProfessionEconomist
Date of Birth8 February 1883
CountryUnited States of America
Joseph A. Schumpeter quotes about
intuition moments prove
Success depends on intuition, on seeing what afterwards proves true but cannot be established at the moment.
organization innovation analysis
The strategic stimulus to economic development in Schumpeter's analysis is innovation, defined as the commercial or industrial application of something new---a new product, process or method of production, a new market or source of supply, a new form of commercial, business or financial organization.
mind gold modern
The modern mind dislikes gold because it blurts out unpleasant truths.
creative facts essentials
Creative Destruction is the essential fact about capitalism.
evil judging important
In one important sense, Marxism is a religion. To the believer it presents, first, a system of ultimate ends that embody the meaning of life and are absolute standards by which to judge events and actions; and, secondly, a guide to those ends which implies a plan of salvation and the indication of the evil from which mankind, or a chosen section of mankind, is to be saved.
girl queens achievement
The capitalist achievement does not typically consist in providing more silk stocking for queens but in bringing them within the reach of factory girls in return for a steadily decreasing amount of effort.
payment advantage profit
Profit is the payment you get when you take advantage of change.
gentleman cold douches
Gentlemen, a depression is for capitalism like a good, cold douche.
opportunity capitalist-economy matter
As a matter of fact, capitalist economy is not and cannot be stationary. Nor is it merely expanding in a steady manner. It is incessantly being revolutionized from within by new enterprise, i.e., by the intrusion of new commodities or new methods of production or new commercial opportunities into the industrial structure as it exists at any moment.
creative-destruction essentials economics
The essential point to grasp is that in dealing with capitalism we are dealing with an evolutionary process
russia trouble socialist
The trouble with Russia is not that she is socialist but that she is Russia.
institutions democratic
There exists no more democratic institution than the market
creative gale economics
The perennial gale of creative destruction
holy-grail poor substitutes
The stock exchange is a poor substitute for the Holy Grail.