[IP] The Churn - The Paradox of Progress

[Dave Farber <dave@farber.net>]

Delivered-To: dfarber+@ux13.sp.cs.cmu.edu
X-URL: http://www.grift.com
Date: Wed, 28 Jan 2004 18:06:32 -0800
From: Sharif Torpis <faust@grift.com>
Subject: For [IP]: The Churn - The Paradox of Progress
To: dave@farber.net


I think this would be far more useful to IP readers than poetry
lamenting the loss of jobs:

http://grift.com/churn.pdf

"Economists, questioning why America's job creation in the recovery of
the early 1990s fell short of expected levels, have reconsidered the
ideas of Joseph Schumpeter, who offered the first scholarly
explanation of the churn in the 1930s. Schumpeter advanced the paradox
that economic progress destabilizes the world. Progress and job
destruction go hand in hand in a dynamic process he called creative
destruction. Today, as in the 1930s, Schumpeter's insights help
explain how jobs emerge and disappear through the innovation and
entrepreneurship of free enterprise."

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