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Image of the quote is loading... SaveSave Capitalism does not merely mean that the housewife may influence production by her choice between peas and beans; or that plant managers have some voice in deciding what and how to produce: it means a scheme of values, an attitude toward life, a civilization—the civilization of inequality and of the family fortune. - Quote by Joseph Alois Schumpeter

Capitalism does not merely mean that the housewife may influence production by her choice between peas and beans; or that plant managers have some voice in deciding what and how to produce: it means a scheme of values, an attitude toward life, a civilization—the civilization of inequality and of the family fortune.

Joseph Alois Schumpeter
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Politicians are like bad horsemen who are so preoccupied with staying in the saddle that they can’t bother about where they’re going.
Joseph Alois Schumpeter
Every socialist wishes to revolutionize society from the economic angle and all the blessings he expects are to come through a change in economic institutions. This of course implies a theory about social causation—the theory that the economic pattern is the really operative element in the sum total of the phenomena that we call society.
Joseph Alois Schumpeter
Geniuses and prophets do not usually excel in professional learning, and their originality, if any, is often due precisely to the fact that they do not.
Joseph Alois Schumpeter
The reduced sense of responsibility and the absence of effective volition in turn explain the ordinary citizen's ignorance and lack of judgement in matters of domestic and foreign policy which are if anything more shocking in the case of educated people and of people who are successfully active in non-political walks of life than it is with uneducated people in humble stations.
Joseph Alois Schumpeter
Voters thereby prove themselves bad and indeed corrupt judges of such issues and often they even prove themselves bad judges of their own long-run interests, for it is only the short-run promise that tells politically and only short-run rationality that asserts itself effectively.
Joseph Alois Schumpeter
Please do not think that I am accusing socialists of insincerity or that I wish to hold them up to scorn either as bad democrats or as unprincipled schemers and opportunists. I fully believe, in spite of the childish Machiavellism in which some of their prophets indulge, that fundamentally most of them always have been as sincere in their professions as any other men. Besides, I do not believe in insincerity in social strife, for people always come to think what they want to think and what they incessantly profess. As regards democracy, socialist parties are presumably no more opportunists than are any others; they simply espouse democracy if, as, and when it serves their ideals and interests and not otherwise. Lest readers should be shocked and think so immoral a view worthy only of the most callous of political practitioners, ...
Joseph Alois Schumpeter
Created by wars that required it, the machine now created the wars it required.
Joseph Alois Schumpeter
There was no corner of the known world where some interest was not alleged to be in danger or under actual attack. If the interests were not Roman, they were those of Rome's allies; and if Rome had no allies, then allies would be invented. When it was utterly impossible to contrive such an interest—why, then it was the national honor that had been insulted. The fight was always invested with an aura of legality. Rome was always being attacked by evil-minded neighbors, always fighting for a breathing space. The whole world was pervaded by a host of enemies, and it was manifestly Rome's duty to guard against their indubitably aggressive designs. They were enemies who only waited to fall on the Roman people.
Joseph Alois Schumpeter
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