An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Monday, July 1, 2013
Ashwin Parameshwaran — Creation, Destruction and Stagnation
First, creation [of the new] implies destruction [of the old].
Second, the opposite of creative destruction is stagnation.
Or to put it another way, why have a reciprocating engine (boom-bust) when one can have a turbine? Especially since a severe bust can lead to revolution and/or World War?
Creation: Brahma
ReplyDeleteDestruction: Shiva
Preservation: Vishnu
Let's not slight Vishnu, shall we? :)
Om Namo Narayanaya.
ReplyDeleteIt's the money system that is NECESSARILY destructive since it drives people into debt and then removes the means of payment!
ReplyDeleteA money supply should steadily increase to keep up with growth, not expand and contract like a manic-depressive!
Or to put it another way, why have a reciprocating engine (boom-bust) when one can have a turbine? Especially since a severe bust can lead to revolution and/or World War?
ReplyDelete