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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.

— Joseph Schumpeter

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "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." in the context of "" to mean that wisdom is timeless.

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Source: The 'What it means' explanation text was generated by Google Gemini Flash (accessed January 18, 2026). https://gemini.google.com/app
Joseph Schumpeter

About Joseph Schumpeter

Joseph Alois Schumpeter (February 8, 1883 – January 8, 1950) was an economist from Austria and an influential political scientist.