Joseph Schumpeter

"The great mind must be a slave to nothing but itself."

"The promise that every piece of knowledge can be had by a sort of intellectual pickling and then served up hot to every age, is a promise that cannot be fulfilled."

"A society's values are best understood by examining what it chooses to tax."

"Economic performance alone cannot raise the standard of living unless it is accompanied by cultural and moral development."

"Success comes not from doing what you like, but from liking what you do."

"The question of the maximum productivity of capital merges into that of the distribution of income."

"Those who refuse to engage in intellectual activity will eventually be conquered by those who do."

"Business administration is not the same as the command of a military unit."

"The entrepreneur neither wants nor needs to maximize profit in the long run."

"Markets are institutions that exist to reduce transaction costs."

"Survival is not the primary concern of living organisms; creation is."

"The truly revolutionary ideas are often found in the margins of society."

"A nation's wealth is not measured by the gold in its treasury, but by the productivity of its people."

"The business of society is not to make people equal, but to create conditions for excellence."

"Academic freedom is essential to intellectual progress."

"The entrepreneur must be willing to fail repeatedly before achieving success."

"Progress is not inevitable; it must be fought for by individuals of vision and courage."

"The masses do not think for themselves; they follow the lead of their intellectual masters."

"Knowledge without action is mere entertainment."

"Business cycles are not aberrations from normal economic progress; they are the normal mode of capitalism."

"The desire for security can become a prison if pursued too zealously."

"Every system of government reflects the intellectual conditions of its time."

"The capitalist system has produced a kind of abundance that would have seemed miraculous to earlier generations."

"Thestandard of living depends not on wealth alone, but on how that wealth is distributed and used."

"The entrepreneur must possess both vision and the practical ability to execute that vision."

"Innovation without risk is merely incremental improvement."

"The true measure of a man is not his possessions, but his contributions to the advancement of human knowledge."

"War is the health of the state because it centralizes power and resources in government hands."

"Economic systems are created by human beings and can be modified or replaced by human beings."

"The intellectuals who criticize capitalism are often the very products it has created and elevated."