Creative Destruction is the essential fact about capitalism.

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

The capitalist engine is first and last an engine of mass production which unavoidably also means production for the masses. . . . It is the cheap cloth, the cheap cotton and rayon fabric, boots, motorcars and so on that are the typical achievements of capitalist production, and not as a rule improvements that would mean much to the rich man. Queen Elizabeth owned silk stockings. The capitalist achievement does not typically consist in providing more silk stockings for queens but in bringing them within reach of factory girls.

The 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.

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

Entrepreneurial profit is the expression of the value of what the entrepreneur contributes to production.

Surely, nothing can be more plain or even more trite common sense than the proposition that innovation [...] is at the center of practically all the phenomena, difficulties, and problems of economic life in capitalist society.