Joseph A. Schumpeter
Capitalism, Socialism and Democracy is a book by Joseph Schumpeter, written in the English language and representing one of the central works of his career as an economist and political economist.
Schumpeter was born on 8 February 1883 in Třešť, in the territory then known as Cisleithania. He received his early education at the Theresianum before proceeding to the University of Vienna. Over the course of his life he worked across a range of roles — as an economist, political economist, political scientist, university teacher, jurist, and politician — and he held citizenship in Austria, Germany, and the United States. He worked in both German and English, and he was also a book collector.
Schumpeter brought to his writing career the education he had received at the Theresianum and the University of Vienna, along with the professional experience accumulated across his varied roles. He wrote Capitalism, Socialism and Democracy in English, consistent with his use of that language alongside German, and the book stands as the single most prominent title associated with his name in the scholarly record.
Schumpeter died on 8 January 1950 in Salisbury. The Library of Congress records him under the authorized label "Schumpeter, Joseph A., 1883-1950," a designation that spans the sixty-six years of his life and encompasses his work as an economist, political economist, anthropologist, political scientist, university teacher, jurist, politician, and book collector — a range of occupations that few scholars of his era matched.
Quotes by Joseph A. Schumpeter

For one thing, to predict the advent of big business was considering the conditions of Marx’s day an achievement in itself.

The essential point to grasp is that in dealing with capitalism we are dealing with an evolutionary process.

It is however always important to remember that the ability to see things in their correct perspective may be, and often is, divorced from the ability to reason correctly and vice versa. That is why a man may be a very good theorist and yet talk absolute nonsense...

History is a record of “effects” the vast majority of which nobody intended to produce.

Democracy is a political method, that is to say, a certain type of institutional arrangement for arriving at political – legislative and administrative – decisions and hence incapable of being an end in itself.

I know that it is not enough to be remembered for books and theories. One does not make a difference unless it is a difference in people’s lives.

To realize the relative validity of one’s convictions and yet stand for them unflinchingly is what distinguishes a civilized man from a barbarian.

The evolution of the capitalist style of life could be easily – and perhaps most tellingly – described in terms of the genesis of the modern Lounge Suit.

