Skip to content

Economists have never allowed their analysis to be influenced by psychologists of their time, but have always framed for themselves such assumptions about psychical processes as they have thought it desirable to make.

— Joseph Schumpeter History of Economic Analysis (1945)

Another quote →

Topics

Finance

More quotes by Joseph Schumpeter

The first thing a man will do for his ideals is lie.

In economic life competition is never completely lacking, but hardly ever is it perfect.

This civilization is rapidly passing away, however. Let us rejoice or else lament the fact as much as everyone of us likes; but do not let us shut our eyes to it.

The March into Socialism (1949)

The swarm-like appearance of new combinations easily and necessarily explains the fundamental features of periods of boom.

The Theory of Economic Development (1934)

Gentlemen, you are worried about the depression[sic]. You should not be. For capitalism, a depression is a good, cold douche.

All Joseph Schumpeter quotes →

You may also like

We must do away with the absolutely specious notion that everybody has to earn a living.

Buckminster Fuller

Economics is on the side of humanity now.

Isaac Asimov Empire novels (1950)

Since the state must necessarily provide subsistence for the criminal poor while undergoing punishment, not to do the same for the poor who have not offended is to give a premium on crime.

John Stuart Mill Principles of Political Economy (1848)

Economy, in the estimation of common minds, often means the absence of all taste and comfort.

Sydney Smith Lady Holland's Memoir (1855)

Attribution

Quote text and notes from Wikiquote: Joseph Schumpeter (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.