Recognition of the inevitability of comprehensive bureaucratization does not solve the problems that arise out of it. Joseph A. Schumpeter More Quotes by Joseph A. Schumpeter More Quotes From Joseph A. Schumpeter Marxism is essentially a product of the bourgeois mind. Joseph A. Schumpeter marxismproductsmind The stock exchange is a poor substitute for the Holy Grail. Joseph A. Schumpeter holy-grailsubstitutespoor Gentlemen, a depression is for capitalism like a good, cold douche. Joseph A. Schumpeter douchescoldgentleman To realize the relative validity of one's convictions and yet stand for them unflinchingly is what distinguishes a civilized man from a barbarian. Joseph A. Schumpeter barbariansrealizingmen It is, after all, only common sense to realize that, but for the fact that economic life is a process of incessant internal change, the business cycle, as we know it, would not exist. Joseph A. Schumpeter common-sensebusinessfacts The first thing a man will do for his ideals is lie. Joseph A. Schumpeter menlyingfirsts The trouble with Russia is not that she is socialist but that she is Russia. Joseph A. Schumpeter socialistrussiatrouble Capitalism stands its trial before judges who have the sentence of death in their pockets. They are going to pass it, whatever the defense they may hear; the only success victorious defense can possibly produce is a change in the indictment. Joseph A. Schumpeter pocketsdefensejudging I know that it is not enough to be remembered for books and theories. One does not make a difference unless it is a difference in people's lives. Joseph A. Schumpeter differencesbookpeople This civilization is rapidly passing away, however. Let us rejoice or else lament the fact as much as everyone of us likes; but do not let us shut our eyes to it. Joseph A. Schumpeter eyepassing-awaycivilization The spirit of a people, its cultural level, its social structure, the deeds its policy may prepare—all this and more is written in its fiscal history, stripped of all phrases. He who knows how to listen to its message here discerns the thunder of world history more clearly than anywhere else. Joseph A. Schumpeter phrasespeopleworld Nothing is so retentive as a nation's memory. Joseph A. Schumpeter nationsmemories The state has been living on a revenue which was being produced in the private sphere for private purposes and had to be deflected from these purposes by political force. The theory that construes taxes on the analogy of club dues or of the purchase of the services of, say, a doctor only proves how far removed this part of the social sciences is from scientific habits of mind. Joseph A. Schumpeter doctorspoliticalmind In economic life competition is never completely lacking, but hardly ever is it perfect. Joseph A. Schumpeter economiccompetitionperfect To the believer Marxism presents, first, a system of ultimate ends that embody the meaning of life and are absolute standards by which to judge events and actions. Joseph A. Schumpeter judgingreligionfirsts The very foundation of private property and free contracting wears away in a nation in which its most vital, most concrete, most meaningful types of private property and free contracting disappear from the moral horizon of the people. Joseph A. Schumpeter foundationmeaningfulpeople There is another method of obtaining money... It does not presuppose the existence of accumulated results of previous development, and hence may be considered as the only one which is available in strict logic. This method of obtaining money is the creation of purchasing power by banks. The form it takes is immaterial. Joseph A. Schumpeter developmentdoemay Access to the national dividend is usually to be had only on condition of some productive service previously rendered or of some product previously sold. This condition is, in this case, not yet fulfilled. It will be fulfilled only after the successful completion of the new combinations. Hence this credit will in the meantime affect the price level. Joseph A. Schumpeter creditlevelssuccessful Things economic and social move by their own momentum and the ensuing situations compel individuals and groups to behave in certain ways whatever they may wish to do-not indeed by destroying their freedom of choice but by shaping the choosing mentalities and by narrowing the list of possibilities from which to choose. Joseph A. Schumpeter choiceswishmoving All we can thus far say about the duration of the units of [the business cycle] and each of [its] two phases is that it will depend on the nature of the particular innovations that carry a cycle,... and the financial conditions and habits prevailing in the business community in each case. Joseph A. Schumpeter communitybusinesstwo
