Joseph Schumpeter Quotes

Situations emerge in the process of creative destruction in which many firms may have to perish that nevertheless would be able to live on vigorously and usefully if they could weather a particular storm.

Any existing structures and all the conditions of doing business are always in a process of change. Every situation is being upset before it has had time to work itself out. Economic progress, in a capitalist society, means turmoil.

The current crisis is not simply a market failure in which prices are not functioning properly, but a profound loss of faith in money’s capacity to tell the truth.

Ups and downs are par for the course and very much a feature of the Indian growth process.

In the history of modern capitalism, crises are the norm, not the exception.

Those revolutions are not strictly incessant; they occur in discrete rushes which are separated from each other by spans of comparative quiet. The process as a whole works incessantly however, in the sense that there always is either revolution or absorption of the results of revolution, both together forming what are known as business cycles.

Our people can draw on the tremendous strides made in recent years, not only in terms of advancing themselves spiritually and materially, but also in having weathered social and economic turbulence, triggered, in the main, by factors not of their own creation.

People clinging to job security, savings, retirement plans, and other relics will be the ones financially-ravaged from 2010-2020, the most volatile world-changing decade in history.

Banking is a very treacherous business because you don't realize it is risky until it is too late. It is like calm waters that deliver huge storms.

Competition is not only the basis of protection to the consumer, but is the incentive to progress.

For us, it is very important all the time that our core business is really good but that we don't stop moving.

It is human nature, especially as we get older, to look for stability in our lives. But if you want to be a successful entrepreneur, you have to fight against that somewhat, as starting a business requires movement. You cannot stay still.

As discomfiting as it is to both market optimists and policy activists, a certain amount of instability is inherent to the economy.

No one can forecast the economy with certainty.

You know, every family and every business in California knows what it means to go through tough times.

Everyone would like the world always to be in bubble times. But that doesn't happen.

No one has any idea what's next... the uncertainty of the business climate in America is frightening, frightening to everybody, and it's delaying the recovery.

We do not want financial convulsions.

No man can always have riches.

It’s very difficult to find out what’s going on in the economy even when its happening.

Not having a country with a financial crisis in the year is a pretty big deal to me. But something that didn’t happen is not something that people will focus on.

It is not the owner of stage-coaches who builds railways.

The new always competes with the old and destroys it. Men who build railroads destroy stage coach lines.

I know the Rich will oppose this; but the Richest Men are not always most beneficial to the Commonwealth, Men of Projecting Brains do most good to their Neighbours, for tho' they often hurt themselves by their Projects, yet others reap the benefit of them, and so the Publick is not hurt but helped by them, and I presume none will deny but that this Town hath been more advantaged by some Men now in it of mean Estates, then ever they were by the Richest Men in it

… a depression is for capitalism like a good, cold douche.