All we can thus far say about the duration of the units of [the business cycle] and each of [its] two phases is that it will depend on the nature of the particular innovations that carry a cycle,... and the financial conditions and habits prevailing in the business community in each case.
Joseph A. SchumpeterWhy should we stunt our ambitions and impoverish our lives in order to be insulted and looked down upon in our old age?
Joseph A. SchumpeterSuccess depends on intuition, on seeing what afterwards proves true but cannot be established at the moment.
Joseph A. SchumpeterThis civilization is rapidly passing away, however. Let us rejoice or else lament the fact as much as everyone of us likes; but do not let us shut our eyes to it.
Joseph A. SchumpeterThe religious quality of Marxism also explains a characteristic attitude of the orthodox Marxist toward opponents. To him, as to any believer in a Faith, the opponent is not merely in error but in sin. Dissent is disapproved of not only intellectually but also morally. There cannot be any excuse for it once the Message has been revealed.
Joseph A. Schumpeter