Joseph A. Schumpeter Quotes

• The question that is so clearly in many potential parents’ minds: ‘Why should we stunt our ambitions and impoverish our lives in order to be insulted and looked down upon in our old age?’

  Joseph A. Schumpeter

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

  Joseph A. Schumpeter

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• Can capitalism survive? No, I do not think it can.

  Joseph A. Schumpeter

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• The cold metal of economic theory is in Marx’s pages immersed in such a wealth of steaming phrases as to acquire a temperature not naturally its own.

  Joseph A. Schumpeter

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• When I was a young man, I wanted to be three things: I wanted to be the world’s greatest horseman, the world’s greatest economist, and the world’s greatest lover. Unfortunately I never became the world’s greatest horseman.

  Joseph A. Schumpeter

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• The ballot is stronger than bullets.

  Joseph A. Schumpeter

• Our poverty will be brought home to us to its full extent only after the war.

  Joseph A. Schumpeter

• Marxism is essentially a product of the bourgeois mind.

  Joseph A. Schumpeter

• For the duration of its collective life, or the time during which its identity may be assumed, each class resembles a hotel or an omnibus, always full, but always of different people.

  Joseph A. Schumpeter

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

  Joseph A. Schumpeter

• Economic progress, in capitalist society, means turmoil.

  Joseph A. Schumpeter

• Democracy is a political method, that is to say, a certain type of institutional arrangement for arriving at political – legislative and administrative – decisions and hence incapable of being an end in itself.

  Joseph A. Schumpeter

• 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

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

  Joseph A. Schumpeter

Joseph A. Schumpeter (14)

Birth:	8th February, 1883
Death:	8th January, 1950
Nationality:	American, Austrian
Profession:	Economist, Political Scientist, Politician

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• George Stigler
• Friedrich Engels
• James Wolfensohn
• John Harsanyi
• Hazel Henderson
• James R. Schlesinger
• George Reisman
• Alan Blinder
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• Murray Rothbard

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