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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.

— Joseph Schumpeter The March into Socialism (1949)

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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.

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.

History of Economic Analysis (1945)

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.

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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.