There exists no more democratic institution than the market

Innovations are changes which cannot be decomposed into infinitessimal steps.

The trouble with Russia is not that she is socialist but that she is Russia.

Geniuses and prophets do not usually excel in professional learning, and their originality, if any, is often due precisely to the fact that they do not.

Situations emerge in the process of creative destruction in which many firms may have to perish that nevertheless would be able to live on vigorously and usefully if they could weather a particular storm.

At the heart of capitalism is creative destruction.

Things economic and social move by their own momentum and the ensuing situations compel individuals and groups to behave in certain ways whatever they may wish to do-not indeed by destroying their freedom of choice but by shaping the choosing mentalities and by narrowing the list of possibilities from which to choose.