I have been catching up on my reading lately, finishing books I started 1-3 years ago.
Why Most Things Fail by Paul Ormerod is on my desk today.
I found this quote to by very relevant to today’s economic landscape.
“The question, as Schumpeter saw it, was not ‘how capitalism administers existing structures… [but] how it creates and destroys them.’ This creative destruction, he believed, caused continuous progress and improved standards of living for everyone.”
Hopefully the fall, and the subsequent reshaping of the banking industry is capitalism driving improvement.
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