It's far too easy to only aim for the medium to long term -this means that any significant results would be after Hollande is no longer president, and that a whole generation would have been pretty much sacrificed in the meantime.
I am also getting annoyed by the constant talks of "innovation" everywhere (not least in my boss's mouth). Sure, it's central to many technological success stories. But the bulk of economic activity (or of unemployed workers) is not particularly innovative. Are we to let it down the drain? Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi
Schumpeter is famous for his concept of creative destruction. But in the end he's just a kinder, softer Hayek. tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
Joseph Schumpeter - Wikipedia
Joseph Schumpeter: Capitalism, Socialism and Democracy. 1942 (Zitat:,,Can capitalism survive? No. I do not think it can.")., sowie: ,,... capitalist order tends to destroy itself and ... socialism is ... a likely heir", ,,My final conclusion therefore does not differ ... from that of all Marxists." Zitiert bei Alfred Müller: Die Marxsche Konjunkturtheorie - Eine überakkumulationstheorietische Interpretation. PapyRossa Köln, 2009 (Dissertation 1983), S. 338.
Today, Schumpeter has a following outside of standard textbook economics, in areas such as in economic policy, management studies, industrial policy, and the study of innovation. Schumpeter was probably the first scholar to develop theories about entrepreneurship. For instance, the European Union's innovation program, and its main development plan, the Lisbon Strategy, are influenced by Schumpeter. The International Joseph A. Schumpeter Society awards the Schumpeter Prize. The Schumpeter School of Business and Economics opened in October 2008 at the University of Wuppertal. According to University President Professor Lambert T. Koch, "Schumpeter will not only be the name of the Faculty of Management and Economics, but this is also a research and teaching programme related to Joseph A. Schumpeter." On 17 September 2009, The Economist inaugurated a column on business and management named "Schumpeter." The publication has a history of naming columns after significant figures or symbols in the covered field, including naming its British affairs column after former editor Walter Bagehot and its European affairs column after Charlemagne. The initial Schumpeter column praised him as a "champion of innovation and entrepreneurship" whose writing showed an understanding of the benefits and dangers of business that proved far ahead of its time.
The Schumpeter School of Business and Economics opened in October 2008 at the University of Wuppertal. According to University President Professor Lambert T. Koch, "Schumpeter will not only be the name of the Faculty of Management and Economics, but this is also a research and teaching programme related to Joseph A. Schumpeter."
On 17 September 2009, The Economist inaugurated a column on business and management named "Schumpeter." The publication has a history of naming columns after significant figures or symbols in the covered field, including naming its British affairs column after former editor Walter Bagehot and its European affairs column after Charlemagne. The initial Schumpeter column praised him as a "champion of innovation and entrepreneurship" whose writing showed an understanding of the benefits and dangers of business that proved far ahead of its time.
For Schumpeter a recession was necessary to "correct" "misallocation of resources" notably labour.
Krugman has gone over the evidence for this in his columns over the last year.
His conclusion is that Schumpeter's theory isn't borne out by the evidence and it's all a bit incoherent.
Players like The Economist love the "creative destruction" and "innovation" soundbites from Schumpeter - but his work doesn't seem to hang together that well in the end.
The nihilism of magic ponies. tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
Perhaps he will offer compulsory remedial classes in entrepreneurship and the sustainable creation of added value? It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II
On Hollande, I think that's just wishful thinking. Hollande doesn't have his own economic ideas, but he relies on "experts". If Le Monde is right about who his "experts" are and their ideas, especially their advocacy of Schumpeter over Keynes, then we're fucked. tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
There used to be Research and Development. Now there is Research and Development and Innovation.
In Spain we used to have an Economy Minister and a Ministry of Education and Science. Then in 2008 ZP decided to separate a Ministry of Education, Social Policy and Sport and create a ministry of Science and Innovation. Now we have a Finance Minister, an Economy and Innovation Minister, and a ministry of Education, Culture and Sport. tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker
