Joseph Alois Schumpeter

“The first thing a man will do for his ideals is lie.”

“The process of Creative Destruction is the essential fact about capitalism.”

“Capitalism, then, is by nature a form or method of economic change and not only never is but never can be stationary.”

“The entrepreneur is the agent of change.”

“Innovation is the market introduction of a technical or organisational novelty, not just its invention.”

“The carrying out of new combinations we call 'enterprise'; the individuals whose function it is to carry them out we call 'entrepreneurs.'”

“The problem that is usually being visualized is how capitalism administers existing structures, whereas the relevant problem is how it creates and destroys them.”

“The essential point to grasp is that in dealing with capitalism we are dealing with an evolutionary process.”

“The budget is the skeleton of the state stripped of all misleading ideologies.”

“Gentlemen, a depression is for capitalism like a good, cold douche.”

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

“Without innovation, there is no entrepreneurship.”

“The modern standard of life of the masses evolved during the period of relatively unfettered 'big business'.”

“Situations emerge in the process of creative destruction in which many firms may have to perish that nevertheless would be able to live on vigorously and usefully if they could weather a particular storm.”

“Economic progress, in a capitalist society, means turmoil.”