For the duration of its collective life, or the time during which its identity may be assumed, each class resembles a hotel… — Joseph A. Schumpeter Copy Share Image
Lack of outlets, excess capacity, complete deadlock, in the end regular recurrence of national bankruptcies and other disasters-perhaps world wars from sheer… — Joseph A. Schumpeter Copy Share Image
It is however always important to remember that the ability to see things in their correct perspective may be, and often is,… — Joseph A. Schumpeter Copy Share Image
The spirit of a people, its cultural level, its social structure, the deeds its policy may prepare—all this and more is written… — Joseph A. Schumpeter Copy Share Image
Things economic and social move by their own momentum and the ensuing situations compel individuals and groups to behave in certain ways… — Joseph A. Schumpeter Copy Share Image
Situations emerge in the process of creative destruction in which many firms may have to perish that nevertheless would be able to… — Joseph A. Schumpeter Copy Share Image
There is another method of obtaining money... It does not presuppose the existence of accumulated results of previous development, and hence may… — Joseph A. Schumpeter Copy Share Image
In economic life competition is never completely lacking, but hardly ever is it perfect. — Joseph A. Schumpeter Copy Share Image
Pessimistic visions about almost anything always strike the public as more erudite than optimistic ones — Joseph A. Schumpeter Copy Share Image
All we can thus far say about the duration of the units of [the business cycle] and each of [its] two phases is that… — Joseph A. Schumpeter Copy Share Image
The religious quality of Marxism also explains a characteristic attitude of the orthodox Marxist toward opponents. To him, as to any believer in a… — Joseph A. Schumpeter Copy Share Image
Want and effective demand are not the same thing. If they were, the poorest nations would be the ones to display the most vigorous… — Joseph A. Schumpeter Copy Share Image
I know that it is not enough to be remembered for books and theories. One does not make a difference unless it is a… — Joseph A. Schumpeter Copy Share Image
Entrepreneurial profit is the expression of the value of what the entrepreneur contributes to production. — Joseph A. Schumpeter Copy Share Image
Surely, nothing can be more plain or even more trite common sense than the proposition that innovation [...] is at the center of practically… — Joseph A. Schumpeter Copy Share Image
