http://www.nakedcapitalism.com/2008/01/how-recessions-may-indeed-improve.html Mon, 23 Nov 2009 00:58:00 -0500 http://wordpress.org/?v=2.8.4 hourly 1 http://www.nakedcapitalism.com/2008/01/how-recessions-may-indeed-improve.html#comment-2935 Amnon Portugaly Wed, 09 Jan 2008 15:09:00 +0000 http://www.nakedcapitalism.com/2008/01/how-recessions-may-indeed-improve-efficiency/#comment-2935 Schumpeter theory of "creative destruction” is the basis of Neoliberal logic. This logic led to the 1929-1939 depression. We have to remember that economy is a social science dealing with people. These people suffer and pay the price of this "creative destruction". Why not prevent these “excesses of boom phases” in the first place. Prevention is always better and certainly more cost effective than post facto treatment. Schumpeter theory of “creative destruction” is the basis of Neoliberal logic. This logic led to the 1929-1939 depression. We have to remember that economy is a social science dealing with people. These people suffer and pay the price of this “creative destruction”. Why not prevent these “excesses of boom phases” in the first place. Prevention is always better and certainly more cost effective than post facto treatment.

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