Joseph Schumpeter Quotes

The difficulty lies, not in finding a producer, but in finding a consumer.

There cannot be overproduction of anything which men and women want. And their wants are unlimited, except by the size of their stomachs.

A very poor man may be said in some sense to have a demand for a coach and six; he might like to have it; but his demand is not an effectual demand, as the commodity can never be brought to market in order to satisfy it.

Neoclassical economics insists that advertising cannot force consumers to buy anything they don't already want to buy.

I went into the sciences very early on, but to me, economics pervades so much more of our lives and our existence.

It has been shown that, in contrast to everything which classical national economy has hitherto taught, not the producer but the consumer is the ruling factor in economic life.

What a surprise. Economists disagree.

Supply creates its own demand

Supply can create its own demand.

Everything which is demanded is by that fact a good.

All I ever did was supply a demand that was pretty popular.

In general it may be said that demand is quite as necessary to the increase of capital as the increase of capital is to demand.

Need is not demand. Effective economic demand requires not merely need but corresponding purchasing power.

What is called 'capitalism' might more accurately be called consumerism. It is the consumers who call the tune, and those capitalists who want to remain capitalists have to learn to dance to it.

We do not manufacture wants for goods we do not produce.

Capitalism is not simply mass production, but mass production to satisfy the needs of the masses.

There is no such thing as agflation. Rising commodity prices, or increases in any prices, do not cause inflation. Inflation is what causes prices to rise. Of course, in market economies, prices for individual goods and services rise and fall based on changes in supply and demand, but it is only through inflation that prices rise in aggregate.

Weirdly enough, I'm a macroeconomics enthusiast.

No one is entertained by economics.

I am a trained economist.

I had never taken any economics. I literally didn't know what it was. I thought it was just about the study of money.

If you think broadly about business, population size is a very important factor.

I studied economics with some teachers from ESADE. It's a really good school here in Spain. They helped me to understand a little about numbers, stats, economics, etc.

If there are not jobs or adequate forms of social protection, there is not enough income to create the consumption base that drives demand and sustainable economic growth.

Scarcity is a good sales tactic if you are selling something people want.