Joseph A. Schumpeter Quotes About Capitalism

Quotes about: Capitalism

• 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.

  Joseph A. Schumpeter

  Girl, Queens, Mean

• Capitalism inevitably and by virtue of the very logic of its civilization creates, educates and subsidizes a vested interest in social unrest.

  Joseph A. Schumpeter

  Social Unrest, Civilization, Logic

  Joseph A. Schumpeter (2013). “Capitalism, Socialism and Democracy”, p.146, Routledge

• At the heart of capitalism is creative destruction.

  Joseph A. Schumpeter

  Heart, Creative, Destruction

• Creative Destruction is the essential fact about capitalism.

  Joseph A. Schumpeter

  Creative, Essentials, Facts

  Joseph A. Schumpeter (2013). “Capitalism, Socialism and Democracy”, p.83, Routledge

• The evolution of the capitalist style of life could be easily - and perhaps most tellingly - described in terms of the genesis of the modern Lounge Suit.

  Joseph A. Schumpeter

  Style, Suits, Evolution

  Joseph A. Schumpeter (2013). “Capitalism, Socialism and Democracy”, p.126, Routledge

• The essential point to grasp is that in dealing with capitalism we are dealing with an evolutionary process

  Joseph A. Schumpeter

  Essentials, Creative Destruction, Economics

  Joseph A. Schumpeter (2013). “Capitalism, Socialism and Democracy”, p.82, Routledge

• Capitalism stands its trial before judges who have the sentence of death in their pockets. They are going to pass it, whatever the defense they may hear; the only success victorious defense can possibly produce is a change in the indictment.

  Joseph A. Schumpeter

  Judging, Pockets, Defense

  Joseph A. Schumpeter (2013). “Capitalism, Socialism and Democracy”, p.144, Routledge

• The intellectual and social climate needed to allow entrepreneurship to thrive will not exist in advanced capitalism.

  Joseph A. Schumpeter

  Intellectual, Climate, Investing

• Gentlemen, a depression is for capitalism like a good, cold douche.

  Joseph A. Schumpeter

  Gentleman, Cold, Douches

• Capitalism Survive?—I have tried to show that a socialist form of society will inevitably emerge from an equally inevitable decomposition of capitalist society.

  Joseph A. Schumpeter

  Decomposition, Form, Inevitable

  Joseph A. Schumpeter (2013). “Capitalism, Socialism and Democracy”, p.410, Routledge

• Can capitalism survive? No. I do not think it can.

  Joseph A. Schumpeter

  Thinking, Capitalism

  Joseph A. Schumpeter (2013). “Capitalism, Socialism and Democracy”, p.61, Routledge

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