“The success of everything depends on intuition, the capacity of seeing things in a way which afterwards proves to be true, even though it cannot be established at the moment, and of grasping the essential fact, discarding the unessential, even though one can give no account of the principles by which this is done.”
Quote by Joseph A. Schumpeter
Work
The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle
This book delves into the intricate relationships between economic development and various financial and business elements, providing a detailed analysis of the dynamics of profits, capital accumulation, credit systems, and the cyclical nature of economic activity. more
Author
Joseph A. Schumpeter
Joseph A. Schumpeter was a renowned economist known for his research on innovation and entrepreneurship. His theories have had a profound impact on modern economics. more
You May Also Like
“The first thing a man will do for his ideals is lie.”
Source: History of Economic Analysis
“Innovations are changes which cannot be decomposed into infinitessimal steps.”
“I had a wonderful childhood, which is tough because it's hard to adjust to a miserable adulthood.”
Source: Capitalism, Socialism and Democracy
Source: Capitalism, Socialism and Democracy
“Can capitalism survive? No. I do not think it can.”
Source: Capitalism, Socialism and Democracy
“Nothing is so treacherous as the obvious.”
Source: Capitalism, Socialism and Democracy
“In economic life competition is never completely lacking, but hardly ever is it perfect.”
Source: Capitalism, Socialism and Democracy