Joseph Schumpeter Quotes
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.
Citations
Schumpeter, Joseph A. Capitalism, Socialism and Democracy. Harper & Brothers, 1942, p. 242.
Related Quotes
Joseph Aloïs Schumpeter was an Austrian political economist. Born in Moravia, he briefly served as Finance Minister of Austria in 1919. In 1932, he became a professor at Harvard University where he remained until the end of his career, eventually obtaining U.S. citizenship. One of the most influential economists of the 20th century, Schumpeter popularized the term "creative destruction" in economics.