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Joseph A. Schumpeter

Joseph A. Schumpeter Quotes

Economist

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Famous Joseph A. Schumpeter Quotes

“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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“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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