We always plan too much and always think too little.— Joseph Schumpeter
The most floundering Joseph Schumpeter quotes that are little-known but priceless
Capitalism inevitably and by virtue of the very logic of its civilization creates, educates and subsidizes a vested interest in social unrest.
Entrepreneurial profit is the expression of the value of what the entrepreneur contributes to production.
It is not true that democracy will always safeguard freedom of conscience better than autocracy. Witness the most famous of all trials. Pilate was, from the standpoint of the Jews, certainly the representative of autocracy. Yet he tried to protect freedom. And he yielded to a democracy.
Economic progress, in capitalist society, means turmoil.
The evolution of the capitalist style of life could be easily -- and perhaps most tellingly -- described in terms of the genesis of the modern Lounge Suit.
Bureaucracy is not an obstacle to democracy but an inevitable complement to it.
The ballot is stronger than bullets.
The capitalist engine is first and last an engine of mass production which unavoidably also means production for the masses. . . . It is the cheap cloth, the cheap cotton and rayon fabric, boots, motorcars and so on that are the typical achievements of capitalist production, and not as a rule improvements that would mean much to the rich man. Queen Elizabeth owned silk stockings. The capitalist achievement does not typically consist in providing more silk stockings for queens but in bringing them within reach of factory girls.
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...
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.
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?
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.