Quotessence
Home / Authors / Joseph A. Schumpeter
Joseph A. Schumpeter

Joseph A. Schumpeter Quotes

Economist

Filter quotes by topic

AllCapitalismCapitalistMayEconomicDoeFactsProcessCreative DestructionEconomicsEconomyFirstsInnovationProductionsSocialBusinessCreativeDestructionEndsLiberalismMarxism

Famous Joseph A. Schumpeter Quotes

“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.”

MatterMomentsFactsOpportunityEconomyMethodStructureProductionsEnterpriseSteadyCapitalistCommodityExpandingMatter Of FactIncessantlyIntrusionStationaryCapitalist Economy
Book:Capitalism, Socialism and Democracy
Create image

“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.”

WayPossibilityMaterialsProductsSourceIndustryFunctionEntrepreneurPatternsProductionsInventionOpeningReformNew WaysCommodityTechnologicalOutletsOpening UpNew Possibilities
Book:Capitalism, Socialism and Democracy
Create image

“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
Create image

“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
Create image