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Quotation of the Day…

Posted By Don Boudreaux On July 22, 2012 @ 9:17 am In Books,Complexity & Emergence,Growth,Innovation | Comments Disabled

…. is from page 147 the 1975 HarperPerennial printing of the third (1950) edition of Joseph Schumpeter [1]‘s 1942 tour de force, Capitalism, Socialism, and Democracy [2]:

But if the monastery gave birth to the intellectual of the medieval world, it was capitalism that let him loose with the printing press.

(I wonder if Pres. Obama believes that publishers and authors, such as the New York Times Company and Thomas Frank, owe royalties and other money to the heirs of Johannes Gutenberg.)

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URLs in this post:

[1] Joseph Schumpeter: http://www.econlib.org/library/Enc/bios/Schumpeter.html

[2] Capitalism, Socialism, and Democracy: http://www.amazon.com/Capitalism-Socialism-Democracy-Third-Edition/dp/0061561614/ref=la_B000AP9F38_1_1?ie=UTF8&qid=1342962851&sr=1-1

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