Innovation is the market introduction of a technical or organisational novelty, not just its invention.

It is not true that democracy will always safeguard freedom of conscience better than autocracy. Witness the most famous of all trials. Pilate was, from the standpoint of the Jews, certainly the representative of autocracy. Yet he tried to protect freedom. And he yielded to a democracy.

Our poverty will be brought home to us to its full extent only after the war.

Profit is the payment you get when you take advantage of change.

Can capitalism survive? No. I do not think it can.

The strategic stimulus to economic development in Schumpeter's analysis is innovation, defined as the commercial or industrial application of something new---a new product, process or method of production, a new market or source of supply, a new form of commercial, business or financial organization.

Why should we stunt our ambitions and impoverish our lives in order to be insulted and looked down upon in our old age?