“The more the process of development becomes familiar and a mere matter of calculation to all concerned, and the weaker the obstacles become in the course of time, the less the “leadership” that will be needed to call forth innovations. Hence the less pronounced will become the swarm-like appearance of entrepreneurs and the milder the cyclical movement.”
The Theory of Economic Development (1934), Ch. 6 : The Business Cycle
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Joseph Alois Schumpeter 13
Austrian economist 1883–1950Related quotes

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