Joseph Schumpeter Quotes


To act with confidence beyond the range of familiar beacons and to overcome society’s resistance requires aptitudes that are present in only a small fraction of the population.


Citations

Joseph A. Schumpeter, 1883–1950, Austrian Economist & Political Scientist, Quoted in Gideon Rose, “Schumpeter’s Heirs”, Foreign Affairs, January/February 2015

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Joseph Schumpeter
Joseph Schumpeter
  • Born: February 8, 1883
  • Died: January 8, 1950
  • Nationality: Austrian, American
  • Profession: Political Economist

Joseph Aloïs Schumpeter was an Austrian political economist. Born in Moravia, he briefly served as Finance Minister of Austria in 1919. In 1932, he became a professor at Harvard University where he remained until the end of his career, eventually obtaining U.S. citizenship. One of the most influential economists of the 20th century, Schumpeter popularized the term "creative destruction" in economics.