As a matter of fact, capitalist economy is not and cannot be stationary. Nor is it merely expanding … - Joseph A. Schumpeter

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A community is the mental and spiritual condition of knowing that the place is shared, and that the people who share the place define and limit the possibilities of each other's lives. It is the knowledge that people have of each other, their concern for each other, their trust in each other, the freedom with which they come and go among themselves.

Joseph A. Schumpeter

As a matter of fact, capitalist economy is not and cannot be stationary. Nor is it merely expanding in a steady manner. It is incessantly being revolutionized from within by new enterprise, i. e. , by the intrusion of new commodities or new methods of production or new commercial opportunities into the industrial structure as it exists at any moment.

Capitalist Economy, Facts, Industrial, Intrusion, Opportunity, Revolutionized

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

Innovation, Invention, Market, Novelty, Technical

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.

Entrepreneur, Function, Opening Up, Pattern, Reform, Way

At the heart of capitalism is creative destruction.

Capitalism, Creative, Destruction, Heart

The typical citizen drops down to a lower level of mental performance as soon as he enters the political field. He argues and analyzes in a way which he would readily recognize as infantile within the sphere of his real interests. He becomes primitive again.

Becomes, Field, Political, Primitive, Real, Typical

Success depends on intuition, on seeing what afterwards proves true but cannot be established at the moment.

Established, Intuition, Moments, Prove, Success