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
innovation novelty invention
Innovation is the market introduction of a technical or organisational novelty, not just its invention.
stronger bullets ballots
The ballot is stronger than bullets.
innovation steps
Innovations are changes which cannot be decomposed into infinitessimal steps.
social-unrest civilization logic
Capitalism inevitably and by virtue of the very logic of its civilization creates, educates and subsidizes a vested interest in social unrest.
expression entrepreneur profit
Entrepreneurial profit is the expression of the value of what the entrepreneur contributes to production.
democracy obstacles rebellious
Bureaucracy is not an obstacle to democracy but an inevitable complement to it.
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.
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.