When Joseph Schumpeter coined the phrase “creative destruction” when referring to capitalism in 1942, he suggested that the mechanisms that constantly revolutionize economic and social processes would eventually lead to the destruction of the capitalist system. While we wait, the technological and productivity processes of capitalism, create at every turn winners and losers. Schumpeter believed to some extent in Marx and Engels criticism of the capitalist class “constant revolutionizing of production [and] uninterrupted disturbance of all social conditions.”
Leave a CommentMonth: May 2021
The drive took me into a world I hadn’t witnessed in almost a year and a half. I poked around the neighborhood, took a tour of downtown, and visited the scenes of memories I hadn’t thought about in years. The whole, wonder at a world in transformation pervaded my furiously working mind.
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