Joseph Schumpeter Quotes
Nothing is so retentive as a nation's memory.
Most countries have long national memories that can be very destructive at times because the past cannot be forgotten. The Balkan nations for example, often determine their current policies by what occurred over 1000 years ago.
Joseph A. Schumpeter, 1883-1950, Austrian Economist, Capitalism, Socialism and Democracy
Sourced by: Eigen's Political and Historical Quotations
See Montesquieu {618579} for a slightly earlier version.
1st Earl of Beaconsfield
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.