Business Quote by Joseph A. Schumpeter
![“All we can thus far say about the duration of the units of [the business cycle] and each of [its] two phases is that it will depend on the nature of the particular innovations that carry a cycle,... and the financial conditions and habits prevailing in the business community in each case.” quote by Joseph A. Schumpeter](https://sms4smile.com/quotes/img-quotes/d28/joseph-a-schumpeter-9723_business_all-we-can-thus-far-say-about-the-durati_219232.jpg)
“All we can thus far say about the duration of the units of [the business cycle] and each of [its] two phases is that it will depend on the nature of the particular innovations that carry a cycle,... and the financial conditions and habits prevailing in the business community in each case.”
About This Quote
Source Book: Capitalism, Socialism and Democracy, Joseph A. Schumpeter, 1942
The length of business‑cycle phases hinges on the specific innovations and prevailing financial habits of the era.
In simple terms: Cycle length depends on innovation and finance habits.
Key Takeaway
Consider how current tech and credit trends shape cycles.
Themes
economics
innovation
finance
Mood
analytical
thoughtful
Type
economic
theoretical
When to use this quote
- policy planning
- investment strategy
- academic research
Key Concepts
Schumpeterian cycles
innovation diffusion
financial habits
Questions to Reflect On
- How do you assess innovation vs. external factors in today’s cycles?
- What financial habits most influence cycle length?
A Different Perspective
Innovation impact may be overstated if external shocks dominate.
![“Surely, nothing can be more plain or even more trite common sense than the proposition that innovation [...] is at the center of practically all the phenomena, difficulties, and problems of economic life in capitalist society.” quote by Joseph A. Schumpeter](https://sms4smile.com/quotes/img-quotes/41e/joseph-a-schumpeter-9723_capitalist_surely-nothing-can-be-more-plain-or-even_384413.jpg)
![“[S]ometimes, when you are a food person, the possible irrelevance of what you are doing doesn’t cross your mind until it’s too late. (Once, for example, when I was just starting out in the food business, I was hired by the caper people to develop a lot of recipes using capers, and it was weeks of…” quote by Nora Ephron](https://sms4smile.com/quotes/img-quotes/d79/nora-ephron-1217_business_s-ometimes-when-you-are-a-food-person-th_980.jpg)
![“If the State does not acquire supremacy over [vast private] enterprises, it becomes their puppet, and they become the real State.” quote by Bertrand Russell](https://sms4smile.com/quotes/img-quotes/bad/bertrand-russell-69_acquire_if-the-state-does-not-acquire-supremacy_1379.jpg)