Joseph Alois Schumpeter: Other

Joseph Alois Schumpeter was Austrian economist. Explore interesting quotes on other.
Joseph Alois Schumpeter: 26 quotes4 likes

“Since as we have seen the entrepreneurial qualification is something which, like many other qualities, is distributed in an ethnically homogeneous group according to the law of error, the number of individuals who satisfy progressively diminishing standards in this respect continually increases. Hence, neglecting exceptional cases — of which the existence of a few Europeans in a negro population would be an example — with the progressive lightening of the task continually more people can and will become entrepreneurs, wherefore the successful appearance of an entrepreneur is followed by the appearance not simply of some others, but of ever greater numbers, though progressively less qualified.”

Joseph Alois Schumpeter The Theory of Economic Development

The Theory of Economic Development (1934), Ch. 6 : The Business Cycle

“Only a few people have these qualities of leadership and only a few in such a situation, that is a situation which is not itself already a boom, can succeed in this direction. However, if one or a few have advanced with success many of the difficulties disappear. Others can then follow these pioneers, as they will clearly do under the stimulus of the success now attainable. Their success again makes it easier, through the increasingly complete removal of the obstacles analysed in the second chapter, for more people to follow suit, until finally the innovation becomes familiar and the acceptance of it a matter of free choice.”

Joseph Alois Schumpeter The Theory of Economic Development

The Theory of Economic Development (1934), Ch. 6 : The Business Cycle

“Why do entrepreneurs appear, not continuously, that is singly in every appropriately chosen interval, but in clusters? Exclusively because the appearance of one or a few entrepreneurs facilitates the appearance of others, and these the appearance of more, in ever-increasing numbers.”

Joseph Alois Schumpeter The Theory of Economic Development

The Theory of Economic Development (1934), Ch. 6 : The Business Cycle

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

Joseph Alois Schumpeter The Theory of Economic Development

The Theory of Economic Development (1934), Ch. 6 : The Business Cycle