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

- Joseph A. Schumpeter

At the heart of capitalism is creative destruction.

- Joseph A. Schumpeter

The function of entrepreneurs is to reform or revolutionize the pattern of production by exploiting an invention or, more generally, an untried techn…

- Joseph A. Schumpeter

The typical citizen drops down to a lower level of mental performance as soon as he enters the political field. He argues and analyzes in a way which…

- Joseph A. Schumpeter

Economic progress, in capitalist society, means turmoil.

- Joseph A. Schumpeter

Success depends on intuition, on seeing what afterwards proves true but cannot be established at the moment.

- Joseph A. Schumpeter

Profit is the payment you get when you take advantage of change.

- Joseph A. Schumpeter

Nothing is so treacherous as the obvious.

- Joseph A. Schumpeter

As a matter of fact, capitalist economy is not and cannot be stationary. Nor is it merely expanding in a steady manner. It is incessantly being revol…

- Joseph A. Schumpeter