Skip to content

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

— Joseph Schumpeter

Another quote →

Source and credibility

Wikiquote does not flag this quote as disputed or misattributed.

Source: Capitalism, Socialism and Democracy (Third Edition): Part IV, Chapter XXII, pg 271
Source quality: Precise citation Points to a specific work with a page, chapter, date or similar locator, so you can look it up.

More by Joseph Schumpeter

Situations emerge in the process of creative destruction in which many firms may have to perish that nevertheless would be able to live on vigorously and usefully if they could weather a particular storm.

Many things may be copied by the latter; the example as such also acts upon them; and many achievements directly serve other branches too [...].

The Theory of Economic Development (1934)

All Joseph Schumpeter quotes →

More quotes by Joseph Schumpeter

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

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)

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 →

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.