Tuesday, June 17, 2008
"(The essence of the economy lay) in the psychological relations between people and in the mental state of the individual... The spiritual community is an infinitely complex and sensitive organism... each individual industrialist or merchant who sets afloat his own little boat." Joseph Schumpeter, as quoted in Thomas K. McCraw's Prophet of Innovation--Joseph Schumpeter and Creative Distruction, p. 110.
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