Joseph A. Schumpeter - Quotes

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Capitalism inevitably and by virtue of the very logic of its civilization creates, educates and subsidizes a vested interest in social unrest. ---->>>

Marxism is essentially a product of the bourgeois mind. ---->>>

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

Economic progress, in capitalist society, means turmoil.

Economic progress, in capitalist society, means turmoil.

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

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. ---->>>

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

The ballot is stronger than bullets. ---->>>

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. ---->>>

Biography

Nationality: American
Born: February 8, 1883
Birthplace: Triesch, Moravia, Austria–Hungary (now Třešť, Czech Republic)
Die: 01-08, 1950
Occupation: Economist
Website:

Joseph Alois Schumpeter (German: [ˈʃʊmpeːtɐ]; 8 February 1883 – 8 January 1950) was an Austrian-born American economist and political scientist. He briefly served as Finance Minister of Austria in 1919. In 1932 he became a professor at Harvard University where he remained until the end of his career (wikipedia)