Joseph A. Schumpeter Quotes About Commodities

Quotes about: Commodities

• The function of entrepreneurs is to reform or revolutionize the pattern of production by exploiting an invention or, more generally, an untried technological possibility for producing a new commodity or producing an old one in a new way, by opening up a new source of supply of materials or a new outlet for products, by reorganizing an industry and so on.

  Joseph A. Schumpeter

  Opening Up, Entrepreneur, Reform

  Joseph A. Schumpeter (2013). “Capitalism, Socialism and Democracy”, p.132, Routledge

• As a matter of fact, capitalist economy is not and cannot be stationary. Nor is it merely expanding in a steady manner. It is incessantly being revolutionized from within by new enterprise, i.e., by the intrusion of new commodities or new methods of production or new commercial opportunities into the industrial structure as it exists at any moment.

  Joseph A. Schumpeter

  Opportunity, Capitalist Economy, Matter

  Joseph A. Schumpeter (2013). “Capitalism, Socialism and Democracy”, p.31, Routledge

• 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 power, whether existing or to be created, concentrates on him, he has either replaced private capitalists or become their agent; he has himself become the capitalist par excellence.

  Joseph A. Schumpeter

  Excellence, Bankers, Saving

  Joseph A. Schumpeter (2011). “The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle”, p.74, Transaction Publishers

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