The opening up of new markets, foreign or domestic, and the organizational development from the craft shop and factory to such concerns as U.S. Steel illustrate the same process of industrial mutation...That incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one. This process of Creative Destruction is the essential fact about capitalism.

Joseph Schumpeter

Capitalism, Socialism, and Democracy

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More information about this quote

Topic

Capitalism

Author

Joseph Schumpeter

Source

Capitalism, Socialism, and Democracy

Genre

Economic literature Historical literature

Language

English

Time

1942 1940s 20th century

Occupation

Economist

From

Austria Europe

Authentication Score 3

Citation

Schumpeter, Joseph Alois. Capitalism, Socialism, and Democracy. Harper & Brothers, 1942, pt. 2, ch. 7.

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A quote by Joseph A. Schumpeter about capitalism: “The opening up of new markets, foreign or domestic, and the…”
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Related Quotes

Below are one or more quotes that share at least one tag with the quote at the top of the page

Another quote from the 1940s

The First Amendment has erected a wall between church and state. That wall must be kept high and impregnable. We could not approve the slightest breach.

Hugo Black

Everson v. Board of Education

Read this opinion at supreme.justia.com.
More information about this quote
Topic
Establishment Clause First Amendment Bill of Rights Constitutional law

Author

Hugo Black
Source
Everson v. Board of Education
Medium
Supreme Court opinion Legal opinion
Genre
Legal writing
Language
English
Time
1947 1940s 20th century
Authentication Score 3
Citation

Black, Hugo. United States, Supreme Court. Everson v. Board of Education. United States Reports, vol. 330, 10 Feb. 1947, pp. 1-74. Justia, supreme.justia.com/cases/federal/us/330/1/.

Another quote about Capitalism

Laissez faire does not mean: Let soulless mechanical forces operate. It means: Let each individual choose how he wants to cooperate in the social division of labor; let the consumers determine what the entrepreneurs should produce. Planning means: Let the government alone choose and enforce its rulings by the apparatus of coercion and compulsion.

Ludwig von Mises

Human Action: A Treatise on Economics

More information about this quote
Topic
Free market Capitalism

Author

Ludwig von Mises
Source
Human Action: A Treatise on Economics
Genre
Economical literature Political literature
Language
English
Time
1949 1940s 20th century
Authentication Score 3
Citation

Von Mises, Ludwig. Human Action: A Treatise on Economics. Yale University Press, 1949, ch. 27.

Another quote from 1942

This much I think I do know—that a society so riven that the spirit of moderation is gone, no court can save; that a society where the spirit flourishes, no court need save; that in a society which evades its responsibility by thrusting upon the courts the nurture of that spirit, that spirit in the end will perish.

Learned Hand

More information about this quote
Topic
Law and culture Politics is downstream of culture
Speaker
Learned Hand
Language
English
Time
1942 1940s 20th century
Authentication Score 3
Citation

Hand, Learned. "The Contribution of an Independent Judiciary to Civilization." 250th Anniversary of the Founding of the Supreme Judicial Court of Massachusetts. 21 Nov. 1942, Boston, MA, USA.