Joseph Schumpeter Quotes
It is however always important to remember that the ability to see things in their correct perspective may be, and often is, divorced from the ability to reason correctly and vice versa. That is why a man may be a very good theorist and yet talk absolute nonsense.
Schumpeter, Joseph A. History of Economic Analysis. Edited by Elizabeth Boody Schumpeter, Oxford University Press, 1954, p. 474.
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.