Joseph Schumpeter

"The entrepreneur is the pivotal actor in the capitalist economy."

"Innovation is the outstanding fact in the economic history of capitalist societies."

"Capitalism is being killed by its achievements."

"The function of entrepreneurs is to reform or revolutionize the pattern of production."

"The businessman may have a very modest position in his own time, but he may achieve historical significance through his work."

"Intellectuals who assail capitalism are themselves a product of capitalism."

"Creative destruction is the process of industrial mutation that incessantly revolutionizes economic structures."

"Capitalism will eventually destroy itself through its own contradictions."

"The true founder of statistical science is the man who first used a bar chart."

"Success requires constant innovation and adaptation."

"The entrepreneur sees possibilities where others see only problems."

"History is a never-ending story of human adaptation and invention."

"To understand economic life, we must understand the role of the entrepreneur."

"Competition is the process of capitalism."

"The stability of business requires the continuous transformation of business."

"Economic theory is useful only insofar as it helps us understand reality."

"The capitalist engine is first and last an engine of change."

"Schumpeter's Law states that successful new enterprises attract competition."

"The entrepreneur must be willing to take risks and face uncertainty."

"New combinations of productive means create the framework for economic progress."

"Democracy is a political system for reaching decisions by a competitive struggle for power."

"Bureaucracy, though often inefficient, creates order and stability."

"The intellectual cannot function without readers and an audience."

"Capitalism thrives on breaking down traditions and social structures."

"Economic analysis must account for historical and sociological factors."

"The entrepreneur's role is not to allocate resources but to create new possibilities."

"Modern corporations represent a new form of economic organization."

"The masses support capitalism even though intellectuals criticize it."

"Economic systems evolve through stages of development."

"Innovation is the source of profit and competitive advantage."