Below are some quotations I selected for Joseph Schumpeter to go on an
economist's calendar.  If any of you have any "better" selections
please let me know.

A few ground rules for the discussion:

	1. Space is limited, so please accompany any suggested quotation
with a suggestion of which quotation to cut.

	2. The new quotation can be no longer than the cut quotation.
	
	3. Please give the source for any quotation you give--I will have to
get permissions for each.

David Colander



Joseph Schumpeter

"Economic development is so far simply the object of economic 
history, which in turn is merely a part of universal history, only 
separated from the rest for purposes of exposition. Because of this 
fundamental dependence of the economic aspect of things on everything 
else, it is not possible to explain economic change by previous 
economic conditions alone. For the economic state of a people does 
not emerge simply from the preceding economic conditions, but only 
from the preceding total situation." (58, The Theory of Economic Development).

"The function of capital consists in procuring for the entrepreneur 
the means with which to produce." (117, The Theory of Economic Development).

"If capitalist evolution-"progress"-either ceases or becomes 
completely automatic, the economic basis of the industrial 
bourgeoisie will be reduced eventually to wages such as are paid for 
current administrative work excepting remnants of quasi-rents and 
monopoly gains that may be expected to linger on for some time. Since 
capitalist enterprise, by its very achievements, tends to automatize 
progress, we conclude that it tends to make itself superfluous - to 
break to pieces under the pressure of its own success." (134, 
Capitalism, Socialism, and Democracy)

"The truce pacemakers of socialism were not the intellectuals or 
agitators who preached it but the Vanderbilts, Carnegies and 
Rockefellers. This result may not in every respect be to the taste of 
Marxian socialists, still less to the taste of socialists of a more 
popular (Marx would have said, vulgar) description. But so far as 
prognosis goes, it does not differ from theirs." (134, Capitalism, 
Socialism and Democracy).

"We have seen that the democratic method works, particularly well, 
also in certain extra- and pre-capitalist societies. But modern 
democracy is a product of the capitalist process." (297, Capitalism, 
Socialism, and Democracy).

"As anyone familiar with the history of economic thought will 
immediately recognize, practically all the economists of the 
nineteenth century and many of the twentieth have believed 
uncritically that all that is needed to explain a given historical 
development is to indicate conditioning or causal factors, such as an 
increase in population or the supply of capital. But this is 
sufficient only in the rarest of cases. (149, "The Creative Response 
in Economic History", Nov, 1947).