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

The perennial gale of creative destruction

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

Nothing is so treacherous as the obvious.

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.

The function of entrepreneurs is to reform or revolutionize the pattern of production by exploiting an invention or, more generally, an untried technological possibility for producing a new commodity or producing an old one in a new way, by opening up a new source of supply of materials or a new outlet for products, by reorganizing an industry and so on.

Gentlemen, a depression is for capitalism like a good, cold douche.