“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.”
The Theory of Economic Development (1934), Ch. 6 : The Business Cycle
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Joseph Alois Schumpeter 13
Austrian economist 1883–1950Related quotes
Robert J. Barro, Xavier Sala-i-Martin, Economic growth 2nd ed. (2004), Ch. 7 : Technological Change: Schumpeterian Models of Quality Ladders

Robert J. Barro, Xavier Sala-i-Martin, Economic growth 2nd ed. (2004), Ch. 7 : Technological Change: Schumpeterian Models of Quality Ladders

The Construction of the Wonderful Canon of Logarithms (1889)

Founding Address (1876)
Context: The freedom of thought is a sacred right of every individual man, and diversity will continue to increase with the progress, refinement, and differentiation of the human intellect. But if difference be inevitable, nay, welcome in thought, there is a sphere in which unanimity and fellowship are above all things needful. Believe or disbelieve as ye list — we shall at all times respect every honest conviction. But be one with us where there is nothing to divide — in action. Diversity in the creed, unanimity in the deed! This is that practical religion from which none dissents. This is that platform broad enough and solid enough to receive the worshipper and the "infidel." This is that common ground where we may all grasp hands as brothers, united in mankind's common cause.

Author's Preface
On the Study and Difficulties of Mathematics (1831)

On the Hypotheses which lie at the Bases of Geometry (1873)

Speech to the US Congress (13 October 1949)
Context: We have achieved political freedom but our revolution is not yet complete and is still in progress, for political freedom without the assurance of the right to live and to pursue happiness, which economic progress alone can bring, can never satisfy a people. Therefore, our immediate task is to raise the living standards of our people, to remove all that comes in the way of the economic growth of the nation. We have tackled the major problem of India, as it is today the major problem of Asia, the agrarian problem. Much that was feudal in our system of land tenure is being changed so that the fruits of cultivation should go to the tiller of the soil and that he may be secure in the possession of the land he cultivates. In a country of which agriculture is still the principal industry, this reform is essential not only for the well-being and contentment of the individual but also for the stability of society. One of the main causes of social instability in many parts of the world, more especially in Asia, is agrarian discontent due to the continuance of systems of land tenure which are completely out of place in the modem world. Another — and one which is also true of the greater part of Asia and Africa — is the low standard of living of the masses.