Home > Topic > Schumpeter
1 " Koch believed that what the famed economist Joseph Schumpeter called " creative destruction" was so critical to the health of the capitalist system that empathy was an obstacle to acceptance of the world that must be brought into being. "
2 " When the solution to a given problem doesn’t lay right before our eyes, it is easy to assume that no solution exists. But history has shown again and again that such assumptions are wrong. This is not to say the world is perfect. Nor that all progress is always good. Even widespread societal gains inevitably produce losses for some people. That’s why the economist Joseph Schumpeter referred to capitalism as “creative destruction.” But humankind has a great capacity for finding technological solutions to seemingly intractable problems, and this will likely be the case for global warming. It isn’t that the problem isn’t potentially large. It’s just that human ingenuity—when given proper incentives—is bound to be larger. Even more encouraging, technological fixes are often far simpler, and therefore cheaper, than the doomsayers could have imagined. Indeed, in the final chapter of this book we’ll meet a band of renegade engineers who have developed not one but three global-warming fixes, any of which could be bought for less than the annual sales tally of all the Thoroughbred horses at Keeneland auction house in Kentucky. "
― Steven D. Levitt , SuperFreakonomics: Global Cooling, Patriotic Prostitutes And Why Suicide Bombers Should Buy Life Insurance
3 " Entrepreneurship rests on a theory of economy and society. The theory sees change as normal and indeed as healthy. And it sees the major task in society - and especially in the economy - as doing something different rather than doing better what is already being done. That is basically what Say, two hundred years ago, meant when he coined the term entrepreneur. It was intended as a manifesto and as a declaration of dissent: the entrepreneur upsets and disorganizes. As Joseph Schumpeter formulated it, his task is " creative destruction. "
4 " Schumpeter remarked how pleased he was with the Russian Revolution. Socialism was now no longer a discussion on paper, but had to prove its viability. Max Weber responded in great agitation: Communism, at this stage in Russian development, was virtually a crime, the road would lead over unparalleled human misery and end in a terrible catastrophe. " Quite likely" , Schumpeter answered, " but what a fine laboratory" . " A laboratory filled with mounds of corpses" , Weber answered heatedly. "
