Economic systems rise and fall not by moral decree, but by t... - Joseph Schumpeter

"Economic systems rise and fall not by moral decree, but by their capacity to satisfy human wants."

Joseph Schumpeter

Economist Historian Austrian-American 1883–1950

More from 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."