Joseph A. Schumpeter Quotes - Page 2

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• Pessimistic visions about almost anything always strike the public as more erudite than optimistic ones

  Joseph A. Schumpeter

  Optimistic, Vision, Investing

  53 Copy quote

• Entrepreneurial profit is the expression of the value of what the entrepreneur contributes to production.

  Joseph A. Schumpeter

  Expression, Entrepreneur, Profit

  Joseph A. Schumpeter (2011). “The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle”, p.153, Transaction Publishers

  57 Copy quote

• 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

  75 Copy quote

• Geniuses and prophets do not usually excel in professional learning, and their originality, if any, is often due precisely to the fact that they do not.

  Joseph A. Schumpeter

  Genius, Facts, Originality

  Joseph A. Schumpeter (2013). “Capitalism, Socialism and Democracy”, p.21, Routledge

  37 Copy quote

• It is however always important to remember that the ability to see things in their correct perspective may be, and often is, divorced from the ability to reason correctly and vice versa. That is why a man may be a very good theorist and yet talk absolute nonsense.

  Joseph A. Schumpeter

  Men, Often Is, Perspective

  Joseph A. Schumpeter (2013). “Capitalism, Socialism and Democracy”, p.76, Routledge

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• The spirit of a people, its cultural level, its social structure, the deeds its policy may prepare—all this and more is written in its fiscal history, stripped of all phrases. He who knows how to listen to its message here discerns the thunder of world history more clearly than anywhere else.

  Joseph A. Schumpeter

  People, Phrases, World

  "The Crisis of the Tax State" (1918)

  8 Copy quote

• 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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• The capitalist achievement does not typically consist in providing more silk stocking for queens but in bringing them within the reach of factory girls in return for a steadily decreasing amount of effort.

  Joseph A. Schumpeter

  Girl, Queens, Achievement

  Joseph A. Schumpeter (2013). “Capitalism, Socialism and Democracy”, p.67, Routledge

  20 Copy quote

• Bureaucracy is not an obstacle to democracy but an inevitable complement to it.

  Joseph A. Schumpeter

  Democracy, Obstacles, Rebellious

  Joseph A. Schumpeter (2013). “Capitalism, Socialism and Democracy”, p.206, Routledge

  13 Copy quote

• The modern mind dislikes gold because it blurts out unpleasant truths.

  Joseph A. Schumpeter

  Mind, Gold, Modern

  26 Copy quote

• The perennial gale of creative destruction

  Joseph A. Schumpeter

  Creative, Gale, Economics

  Joseph A. Schumpeter (2011). “The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle”, p.37, Transaction Publishers

  6 Copy quote

• Marxism is essentially a product of the bourgeois mind.

  Joseph A. Schumpeter

  Mind, Marxism, Products

  Joseph A. Schumpeter (2003). “Ten Great Economists”, p.6, Routledge

  14 Copy quote

• The religious quality of Marxism also explains a characteristic attitude of the orthodox Marxist toward opponents. To him, as to any believer in a Faith, the opponent is not merely in error but in sin. Dissent is disapproved of not only intellectually but also morally. There cannot be any excuse for it once the Message has been revealed.

  Joseph A. Schumpeter

  Religious, Attitude, Errors

  Joseph A. Schumpeter (2013). “Capitalism, Socialism and Democracy”, p.5, Routledge

  12 Copy quote

• In one important sense, Marxism is a religion. To the believer it presents, first, a system of ultimate ends that embody the meaning of life and are absolute standards by which to judge events and actions; and, secondly, a guide to those ends which implies a plan of salvation and the indication of the evil from which mankind, or a chosen section of mankind, is to be saved.

  Joseph A. Schumpeter

  Evil, Judging, Important

  Capitalism, Socialism, and Democracy ch. 1 (1942)

  73 Copy quote

• It is not true that democracy will always safeguard freedom of conscience better than autocracy. Witness the most famous of all trials. Pilate was, from the standpoint of the Jews, certainly the representative of autocracy. Yet he tried to protect freedom. And he yielded to a democracy.

  Joseph A. Schumpeter

  Freedom, Democracy, Trials

  29 Copy quote

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

  Joseph A. Schumpeter

  Intellectual, Climate, Investing

  40 Copy quote

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

  Joseph A. Schumpeter

  Gentleman, Cold, Douches

  52 Copy quote

• 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

  15 Copy quote

• 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.

  Joseph A. Schumpeter

  Common Sense, Innovation, Problem

  59 Copy quote

• It is, after all, only common sense to realize that, but for the fact that economic life is a process of incessant internal change, the business cycle, as we know it, would not exist.

  Joseph A. Schumpeter

  Business, Common Sense, Facts

  20 Copy quote

• The capitalist process shapes things and souls for socialism.

  Joseph A. Schumpeter

  Soul, Shapes, Socialism

  Joseph A. Schumpeter (2013). “Capitalism, Socialism and Democracy”, p.220, Routledge

  8 Copy quote

• The trouble with Russia is not that she is socialist but that she is Russia.

  Joseph A. Schumpeter

  Russia, Trouble, Socialist

  Joseph A. Schumpeter (2013). “Capitalism, Socialism and Democracy”, p.404, Routledge

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• Lack of outlets, excess capacity, complete deadlock, in the end regular recurrence of national bankruptcies and other disasters-perhaps world wars from sheer capitalist despair-may confidently be anticipated. History is as simple a that.

  Joseph A. Schumpeter

  War, Simple, Despair

  Joseph A. Schumpeter (2013). “Capitalism, Socialism and Democracy”, p.51, Routledge

  4 Copy quote

• It is quite possible that future generations will look upon arguments about the inferiority of the socialist plan as we look upon Adam Smith's argument about joint stock companies which, also, were simply false.

  Joseph A. Schumpeter

  Generations, Looks, Inferiority

  Joseph A. Schumpeter (2013). “Capitalism, Socialism and Democracy”, p.196, Routledge

  28 Copy quote

• 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

  10 Copy quote

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