A biography for Joseph A. Schumpeterhasn’t been written yet.
“Entrepreneurial profit is the expression of the value of what the entrepreneur contributes to production.”
“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.”
“Capitalism inevitably and by virtue of the very logic of its civilization creates, educates and subsidizes a vested interest in social unrest.”
“Economic progress, in capitalist society, means turmoil.”
“The ballot is stronger than bullets.”
“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.”
“Marxism is essentially a product of the bourgeois mind.”
“Our poverty will be brought home to us to its full extent only after the war.”
“Bureaucracy is not an obstacle to democracy but an inevitable complement to it.”