28 July 2012 0 Comments

Cafe Hayek Joseph Schumpeter: The Printing Press and the Intellectual

page 147 the 1975 HarperPerennial printing of the third (1950) edition of Joseph Schumpeter‘s 1942 tour de force, Capitalism, Socialism, and Democracy:

“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.) 

I would add that Individual Initiative, Imagination and Inventiveness have something to do with real progress that raises the standard of living for all of us.

Leave a Reply