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… — 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
Pessimistic visions about almost anything always strike the public as more erudite than optimistic ones — Joseph A. Schumpeter Copy Share
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
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
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
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
Entrepreneurial profit is the expression of the value of what the entrepreneur contributes to production. — Joseph A. Schumpeter Copy Share
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
For the duration of its collective life, or the time during which its identity may be assumed, each class resembles a hotel or an… — Joseph A. Schumpeter Copy Share
