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Economists have never allowed their analysis to be influenced by psychologists of their time, but have always framed for themselves such assumptions … - Joseph Schumpeter
" "Economists have never allowed their analysis to be influenced by psychologists of their time, but have always framed for themselves such assumptions about psychical processes as they have thought it desirable to make.
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About Joseph Schumpeter
Joseph Alois Schumpeter (February 8, 1883 – January 8, 1950) was an economist from Austria and an influential political scientist.
Also Known As
Alternative Names:
Josef Aloys Schumpeter
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Joseph Alois Schumpeter
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Joseph A. Schumpeter
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The more the process of development becomes familiar and a mere matter of calculation to all concerned, and the weaker the obstacles become in the course of time, the less the “leadership” that will be needed to call forth innovations. Hence the less pronounced will become the swarm-like appearance of entrepreneurs and the milder the cyclical movement.
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