Economist:Joseph Schumpeter: Difference between revisions
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=== On Creative Destruction in AI Era === | === On Creative Destruction in AI Era === | ||
"The fundamental impulse that sets and keeps the capitalist engine in motion comes from the new consumers' goods, the new methods of production or transportation, the new markets, the new forms of industrial organization that capitalist enterprise creates."<ref name="ref_1942_p83_1">Joseph Schumpeter, ''Capitalism, Socialism and Democracy'' (1942), p. 83, Harper & Brothers</ref> | |||
"This process of Creative Destruction is the essential fact about capitalism."<ref name="ref_1942_p83_1">Joseph Schumpeter, ''Capitalism, Socialism and Democracy'' (1942), p. 83, Harper & Brothers</ref> | |||
=== On Innovation Cycles and Market Bubbles === | |||
"The problem that is usually being visualized is how capitalism administers existing structures, whereas the relevant problem is how it creates and destroys them."<ref name="ref_1942_p84_1">Joseph Schumpeter, ''Capitalism, Socialism and Democracy'' (1942), p. 84, Harper & Brothers</ref> | |||
=== On Creative Destruction in AI Era === | === On Creative Destruction in AI Era === | ||
"Capitalism, then, is by nature a form or method of economic change and not only never is but never can be stationary."<ref name="ref_1942_p82_1">Joseph Schumpeter, ''Capitalism, Socialism and Democracy'' (1942), p. 82, Harper & Brothers</ref> | |||
=== On Innovation Cycles and Market Bubbles === | === On Innovation Cycles and Market Bubbles === | ||
"The entrepreneur is the revolutionary of the economy."<ref name="ref_1934_p93_1">Joseph Schumpeter, ''The Theory of Economic Development'' (1934), p. 93, Harvard University Press</ref> | |||
=== On Labor Market Disruption from Automation === | |||
"Economic progress, in capitalist society, means turmoil."<ref name="ref_1942_p32_1">Joseph Schumpeter, ''Capitalism, Socialism and Democracy'' (1942), p. 32, Harper & Brothers</ref> | |||
== References == | |||
<references /> | |||
[[Category:Economist]] | [[Category:Economist]] | ||
[[Category:Austrian School / Evolutionary Economics]] | [[Category:Austrian School / Evolutionary Economics]] | ||
Latest revision as of 21:04, 12 August 2025
Joseph Schumpeter[edit]
Biography[edit]
Austrian political economist (1883-1950), known for theories on business cycles and innovation.
School of Thought[edit]
Austrian School / Evolutionary Economics
Notable Quotes[edit]
On Creative Destruction in AI Era[edit]
"The fundamental impulse that sets and keeps the capitalist engine in motion comes from the new consumers' goods, the new methods of production or transportation, the new markets, the new forms of industrial organization that capitalist enterprise creates."[1] "This process of Creative Destruction is the essential fact about capitalism."[1]
On Innovation Cycles and Market Bubbles[edit]
"The problem that is usually being visualized is how capitalism administers existing structures, whereas the relevant problem is how it creates and destroys them."[2]
On Creative Destruction in AI Era[edit]
"Capitalism, then, is by nature a form or method of economic change and not only never is but never can be stationary."[3]
On Innovation Cycles and Market Bubbles[edit]
"The entrepreneur is the revolutionary of the economy."[4]
On Labor Market Disruption from Automation[edit]
"Economic progress, in capitalist society, means turmoil."[5]
References[edit]
- ↑ 1.0 1.1 Joseph Schumpeter, Capitalism, Socialism and Democracy (1942), p. 83, Harper & Brothers
- ↑ Joseph Schumpeter, Capitalism, Socialism and Democracy (1942), p. 84, Harper & Brothers
- ↑ Joseph Schumpeter, Capitalism, Socialism and Democracy (1942), p. 82, Harper & Brothers
- ↑ Joseph Schumpeter, The Theory of Economic Development (1934), p. 93, Harvard University Press
- ↑ Joseph Schumpeter, Capitalism, Socialism and Democracy (1942), p. 32, Harper & Brothers