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Joseph A. Schumpeter

Joseph A. Schumpeter Quotes

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Famous Joseph A. Schumpeter Quotes

“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.”

Has BeensReligiousSinAttitudeQualityMessagesErrorsExcuseBelieverOpponentsCharacteristicsOrthodoxMarxismDissentMarxist
Book:Capitalism, Socialism and Democracy
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“The strategic stimulus to economic development in Schumpeter's analysis is innovation, defined as the commercial or industrial application of something new---a new product, process or method of production, a new market or source of supply, a new form of commercial, business or financial organization.”

FormProcessEconomicProductsSourceDevelopmentOrganizationInnovationMethodFinancialProductionsDefinedAnalysisSomething NewApplicationStrategicStimulusEconomic DevelopmentNew Products
Book:The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle
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“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.”

MenFirstsMeanDoeLastsGirlRichAchievementMassCapitalismProductionsImprovementQueensEnginesFactoriesBootsCapitalistProvidingFabricTypicalSilkCottonRich ManStockingsFirsts And LastsWithin ReachQueen ElizabethMass Production
Author:Joseph A. Schumpeter
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“Those revolutions are not strictly incessant; they occur in discrete rushes which are separated from each other by spans of comparative quiet. The process as a whole works incessantly however, in the sense that there always is either revolution or absorption of the results of revolution, both together forming what are known as business cycles.”

WholeTogetherProcessResultsBusinessKnownRevolutionQuietCyclesIncessantAbsorptionIncessantlyDiscrete
Book:Capitalism, Socialism and Democracy
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