Schumpeter: the funny political economist

One of many examples in Capitalism, Socialism, and Democracy (pg 123):

“Suppose that some ‘primitive’ man uses that most elementary of all machines, already appreciated by our gorilla cousins, a stick, and that this stick breaks in his hand. If he tries to remedy the damage by reciting a magical formula — he might for instance murmur Supply and Demand or Planning and Control in the expectation that if he repeats this exactly nine times the two fragments will unite again — then he is within the precincts of pre-rational thought. If he gropes for the best way to join the fragments or to procure another stick, he is being rational in our sense.”

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