RE: The Boom, Bust and Replacement of the global economy

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The Boom, Bust and Replacement of the global economy

in thoughts •  5 years ago 

The economy should always be changing. The alternative is stagnation like Communist economies. We know what happened to them.

Joseph Schumpeter called this process "creative destruction."

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The problem with the current process is it is destruction of the many into the creation for the few. We need to destroy the model and create a better one.