Tag Archives: joseph schumpeter
The Creative Process of Government Destruction
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
Independence Day in America Circa 2021
The days are long and hot in the Northern Hemisphere when real American patriots spit upon their hands and hoist the stars and stripes. On July 4th, the free and brave, with duty and self-sacrifice, begrudgingly accept federal holiday pay to stand tall upon their own two feet. Rugged individualism and uncompromising independence are essential to their character. Continue reading
Independence Day in America Circa 2019
In the early 1990s, Steve Rocco, a scrub freestyle skater from Hermosa Beach, delivered an epic haymaker to the corporate skateboard industry. On a shoe string budget, financed with predator loans from a shark named Kirby, Rocco rapidly took down the big three skate companies that, in hindsight, had grown fat and stale. In a classic case of Joseph Schumpeter’s “gale of creative destruction,” he revolutionized the industry and subculture. Continue reading
