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Joseph A. Schumpeter Quotes

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Joseph A. Schumpeter
February 8, 1883 - January 8, 1950
Nationality: American
Category: Economist
Subcategory: American Economist

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.


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


Marxism is essentially a product of the bourgeois mind.


Economic progress, in capitalist society, means turmoil.


The ballot is stronger than bullets.


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


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.


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


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


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