Achievement Quote by Joseph A. Schumpeter
“The capitalist engine is first and last an engine of mass production which unavoidably also means production for the masses. . . . It is the cheap cloth, the cheap cotton and rayon fabric, boots, motorcars and so on that are the typical achievements of capitalist production, and not as a rule improvements that would mean much to the rich man. Queen Elizabeth owned silk stockings. The capitalist achievement does not typically consist in providing more silk stockings for queens but in bringing them within reach of factory girls.”
About This Quote
Source Book: Capitalism, Socialism and Democracy, Joseph A. Schumpeter, 1942
Capitalist production creates cheap goods for the masses, not luxury items for the elite.
In simple terms: Capitalism makes cheap goods for many, not luxuries for few.
Key Takeaway
Focus on mass accessibility over elite exclusivity.
Themes
economics
production
social equity
class
mass market
Mood
pragmatic
critical
Type
analytical
economic
When to use this quote
- consumer goods
- fashion industry
- automotive market
- labor market
- policy making
Key Concepts
industrialization
mass consumption
wealth distribution
Questions to Reflect On
- How can mass production be made more sustainable?
- What policies ensure fair wages in cheap‑goods economies?
A Different Perspective
May overlook quality, sustainability, or worker exploitation.
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