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
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.
holy-grail poor substitutes
The stock exchange is a poor substitute for the Holy Grail.
democracy obstacles rebellious
Bureaucracy is not an obstacle to democracy but an inevitable complement to it.
ambition order age
Why should we stunt our ambitions and impoverish our lives in order to be insulted and looked down upon in our old age?
successful credit levels
Access to the national dividend is usually to be had only on condition of some productive service previously rendered or of some product previously sold. This condition is, in this case, not yet fulfilled. It will be fulfilled only after the successful completion of the new combinations. Hence this credit will in the meantime affect the price level.
excellence saving agents
The banker, therefore, is not so much primarily a middleman in the commodity "purchasing power" as a producer of this commodity. However, since all reserve funds and savings today usually flow to him, and the total demand for free purchasing power, whether existing or to be created, concentrates on him, he has either replaced private capitalists or become their agent; he has himself become the capitalist par excellence.
pages temperature phrases
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.
optimistic vision investing
Pessimistic visions about almost anything always strike the public as more erudite than optimistic ones
style suits evolution
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.
achievement advent bigs
For one thing, to predict the advent of big business was considering the conditions of Marx's day an achievement in itself.