Tag Archives: economic depression

The Creative Process of Government Destruction

Posted on April 14, 2023 by MN Gordon

According to Schumpeter, the depression stage is both useful and creative. It brings the economy into equilibrium through forced adjustments. The level setting during the depression then encourages new innovations that take shape in the next stage of recovery. This process, where new and innovative companies destroy the value of established companies, is what Schumpeter called creative destruction. Continue reading →

Posted in Economy, MN Gordon | Tagged , , , , | 2 Comments

Death to Zombies

Posted on November 11, 2022 by MN Gordon

Rising interest rates, no doubt, bring death to zombies. By zombies, we’re referring to those companies in the second camp that would have died long ago, if not for the sustenance of artificially suppressed cheap credit. Continue reading →

Posted in Inflation, MN Gordon | Tagged , , , , | 24 Comments