Pessimistic Visions About Almost Anything Always Strike

The Very Foundation Of Private Property And Free Contracting Wears Away In A Nation In Which Its Most Vital, Most Concrete, Most Meaningful Types Of Private Property And Free Contracting Disappear From The Moral Horizon Of The People.

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.

Situations Emerge In The Process Of Creative Destruction In Which Many Firms May Have To Perish That Nevertheless Would Be Able To Live On Vigorously And Usefully If They Could Weather A Particular Storm.

Can Capitalism Survive? No. I Do Not Think It Can.

Economic Progress, In Capitalist Society, Means Turmoil.