Schumpeter's Creative Destruction - (2.0) back-to-back bubbles & the Gen X superior adaptiveness over Boomers failures.
Immortalist
a millionaire by the time he was thirty, greed was good, and social
activism was deader than disco. That was before the Great Middle Class
Squeeze and a roller coaster of economic insecurity and technological
innovations changed everything. Two back-to-back bubbles later, many
Xers find that living in a time of “creative destruction”—when an old
economic order is upended by a new one—has deeply affected their
everyday lives; from how they work, where they live, how they play,
when they marry and have children, to their attitudes on love, humor,
friendship, happiness, and personal fulfillment.
But what’s more, after spending years in the shadow of baby-boomers
only to find themselves facing the prospects of economic ruin and
environmental meltdown, Xers are realizing the time may finally have
arrived for them to be in charge...
Ironically, before this generation was known as Generation X, the
prevailing wisdom (circa 1985) was that this group would have it
pretty cushy in almost every way: as babyboomers aged their way
through society, vast opportunities would open up for the smaller
demographic coming up behind them; colleges would be competing with
each other to attract the best students; as boomers moved out of the
workforce there would be more jobs available than could be filled,
increasing pay and benefits; and—get this—there would be a flood of
affordable housing as boomers traded up! As the saying goes,
prediction is very hard, especially about the future…
Joseph Schumpeter, used the phrase “creative destruction” to describe
the process by which capitalism renews itself, often through violent
convulsions that cause quite a bit of pain. He was originally
describing the industrial revolution, but we are experienceing
creative destruction 2.0 which describes the global/technological
revolution:
This is truly a new era of creative destruction, not only altering
everyday life for Generation X—from how we work, where we live, how we
play, when we marry and have children, to our attitudes about love,
humor, friendship, happiness, and personal fulfillment—but the world
as we know it. Powerful forces have been unleashed in our lifetime,
and to assume that it’s all going to work out, that creative
destruction will continuously renew the economy via radical
transformation from within, could turn out to be the ultimate in
naivete.
Schumpeter argued strenuously in favor of capitalism at a time when
socialism and communism were considered viable options (“the
capitalist process, not by coincidence but by virtue of its mechanism,
progressively raises the standard of life of the masses.”) But he was
also well aware of its shortcomings. Not only do people and industries
get hurt in the churn, they become “free to make a mess of their
lives” with enough “individualist rope” to hang themselves. What’s
more, capitalism sets up a tension “between two interests in society,
the interest in present enjoyment, and the interest in the nation’s
economic future.” Schumpeter actually predicted that capitalism
couldn’t survive because governments would eventually quash
creativity, an understandable conclusion when communism was a serious
consideration. What Schumpeter didn’t count on, however, is that
capitalism can overwhelm democracy, and in the current age of creative
destruction 2.0, it’s working far too well.
http://slackonomics.com/
http://www.amazon.com/Slackonomics-Generation-Age-Creative-Destruction/dp/0786718846
Rod Speed
> Generation X grew up in the 1980s,
Wrong, as always.
http://en.wikipedia.org/wiki/Generation_X
> when Alex P. Keaton was going to be a millionaire by the time he was
> thirty, greed was good, and social activism was deader than disco.
Only in your pathetic little pig ignorant fantasyland.
> That was before the Great Middle Class Squeeze
No such animal. It in fact boomed thru that time.
> and a roller coaster of economic insecurity
Only in your pathetic little pig ignorant fantasyland.
> and technological innovations changed everything.
Must be one of those rocket scientist terminal fuckwits.
> Two back-to-back bubbles later,
Another of your pathetic little pig ignorant fantasys.
> many Xers find that living in a time of �creative destruction�
> � when an old economic order is upended by a new one
Another of your pathetic little pig ignorant fantasys.
> �has deeply affected their everyday lives; from how they work, where
> they live, how they play, when they marry and have children, to their
> attitudes on love, humor, friendship, happiness, and personal fulfillment.
Corse nothing like that has ever happened to anyone else, eh ?
> But what�s more, after spending years in the shadow
> of baby-boomers only to find themselves facing the
> prospects of economic ruin and environmental meltdown,
Another of your pathetic little pig ignorant fantasys.
> Xers are realizing the time may finally have arrived for them to be in charge...
Only in your pathetic little drug crazed pig ignorant fantasyland.
> Ironically, before this generation was known as Generation X, the
> prevailing wisdom (circa 1985) was that this group would have it
> pretty cushy in almost every way: as babyboomers aged their way
> through society, vast opportunities would open up for the smaller
> demographic coming up behind them; colleges would be competing
> with each other to attract the best students; as boomers moved out
> of the workforce there would be more jobs available than could be
> filled, increasing pay and benefits; and�get this�there would be
> a flood of affordable housing as boomers traded up! As the
> saying goes, prediction is very hard, especially about the future�
> Joseph Schumpeter, used the phrase �creative destruction� to describe
> the process by which capitalism renews itself, often through violent
> convulsions that cause quite a bit of pain. He was originally
> describing the industrial revolution, but we are experienceing
> creative destruction 2.0 which describes the global/technological
> revolution:
Another of your pathetic little pig ignorant fantasys.
> This is truly a new era of creative destruction, not only altering
> everyday life for Generation X�from how we work, where we
> live, how we play, when we marry and have children, to our
> attitudes about love, humor, friendship, happiness, and
> personal fulfillment�but the world as we know it.
Another of your pathetic little pig ignorant fantasys.
> Powerful forces have been unleashed in our lifetime,
Happens in most lifetimes, fool.
> and to assume that it�s all going to work out,
That aint an assumption, its a fact right thru the west and much of the rest too.
> that creative destruction will continuously renew the economy via radical
> transformation from within, could turn out to be the ultimate in naivete.
Not a chance.
> Schumpeter argued strenuously in favor of capitalism at a time when
> socialism and communism were considered viable options (�the
> capitalist process, not by coincidence but by virtue of its mechanism,
> progressively raises the standard of life of the masses.�)
He's right. And so does the best bits of socialism too.
> But he was also well aware of its shortcomings.
True of any system.
> Not only do people and industries get hurt in the churn,
> they become �free to make a mess of their lives� with
> enough �individualist rope� to hang themselves.
True of any system.
> What�s more, capitalism sets up a tension �between two interests
> in society, the interest in present enjoyment, and the interest in the
> nation�s economic future.� Schumpeter actually predicted that
> capitalism couldn�t survive because governments would eventually
> quash creativity, an understandable conclusion when communism
> was a serious consideration. What Schumpeter didn�t count on,
> however, is that capitalism can overwhelm democracy, and in
> the current age of creative destruction 2.0, it�s working far too well.
Only in your pathetic little pig ignorant fantasyland.
> http://slackonomics.com/
> http://www.amazon.com/Slackonomics-Generation-Age-Creative-Destruction/dp/0786718846
Just another completely mindless steaming turd.
ZerkonXXXX
> What Schumpeter didn’t count on
apparently was that 'capitalism' would trend towards capitalism.
Leaving 'industrial' in the dust of rust and become and doing what it
always dreamed of doing, make capital from capital while cutting out all
of the pesky and dreary tangibles that actually did had to be produced by
(gasp!) real work.
Creativity? Hell, yes. So creative as to create a entire system based on
money just *POOF* created, you know like on the storybooks.
Oh oh, trouble in creation.
Once again, cue capitalist managed socialism to, once again, suck up
tangibles and the force that actually works so la la capitalist can keep
creating their capital from the real capital of others and still be able
to 'cash in'.
> ....that capitalism can overwhelm democracy
Simply shocking (i.e. not). Capitalism will sooner or later always
overwhelm itself. 'Democracy' is an irrelevant used here to keep the
hicks on the peace train.
Anarcissie
ZerkonXXXX <Z...@erkonx.net> wrote:
Well, apparently people believe in it, so it's at least
politically effective -- something like the Roman
Catholic Church in medieval Europe. That's something
of an accomplishment, is it not?
Bret Cahill
It'll be an even bigger accomplishment if they can pull off that scam
in the age of cheap communications.
Bret Cahill
Bret Cahill
> capitalism can overwhelm democracy, and in the current age of creative
> destruction 2.0, it’s working far too well.
Tocqueville said that the love of money would eventually ham string
Americans from being able to make money.
A good example is the tragedy of the commons or the short term profits
of corporations.
Bret Cahill
Rod Speed
That makes it even easier. Look at how easy it was to
run the line that JFK was assassinated by the CIA etc.
Rod Speed
>> What Schumpeter didn�t count on, however, is that capitalism
>> can overwhelm democracy, and in the current age of
>> creative destruction 2.0, it�s working far too well.
> Tocqueville said that the love of money would eventually
> ham string Americans from being able to make money.
Like hell he did.
> A good example is the tragedy of the commons
We fixed that.
> or the short term profits of corporations.
Different matter entirely.
David P.
Sounds like Brat is a little behind the times, eh?!
.
.
--
Rod Speed
>> Like hell he did.
>> We fixed that.
>> Different matter entirely.
More another example of a pathetic little coat trail.
He says stupid stuff like that deliberately to get a reaction.
That should be obvious from his other pathetic little coat trail about the repugs.