American - Economist | February 8, 1883 - January 8, 1950
Entrepreneurial profit is the expression of the value of what the entrepreneur contributes to production.
Joseph A. Schumpeter
ValueEntrepreneurProfitProduction
Bureaucracy is not an obstacle to democracy but an inevitable complement to it.
DemocracyInevitableBureaucracy
Capitalism inevitably and by virtue of the very logic of its civilization creates, educates and subsidizes a vested interest in social unrest.
CapitalismLogicCivilizationVirtue
The ballot is stronger than bullets.
StrongerBulletsThanBallot
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.
LifeTimeIdentityPeopleHotelMay
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.
DemocracyEndDecisionsPolitical
Economic progress, in capitalist society, means turmoil.
ProgressSocietyEconomicMeans
Our poverty will be brought home to us to its full extent only after the war.
HomeWarPovertyWillUsOnly
Marxism is essentially a product of the bourgeois mind.
MindProductMarxismBourgeois
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