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The Anglo Disease - Financiers worried about end of great bull run | 42 comments (42 topical, editorial, 0 hidden)
Re: Anglo Disease (none / 0)
I know that Schumpeter style economists will say untrammeled creative destruction is a good thing, but I think that's more contentious.

Not true - at least if you speak about economists the way we (economists) define our profession, not the way people like Klaus think of themselves. Even a simplest Schumpeterian model can generate a lot of waste, when someone else creatively destroys your business because your investment doesn't enter his profit function.

by Sargon on Mon Jun 18th, 2007 at 08:13:59 PM EST
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Re: Anglo Disease (none / 0)
For once I didn't actually mean to tar all economists with the same brush, there's a small sub-sect who are really devoted to creative destruction, who see it as the main means of "progress." They are the only ones I was referring to in this case.
by Metatone (metatone [a|t] gmail (dot) com) on Tue Jun 19th, 2007 at 12:55:38 AM EST
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The Anglo Disease - Financiers worried about end of great bull run | 42 comments (42 topical, 0 editorial, 0 hidden)
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