These people are not interested in creative destruction, they are only interested in destruction. That leads to gas chambers. That leads to, uh, guillotines. That leads to millions dead. That leads to Mao. That leads to totalitarianism. Every. Single. Time.
Globalisation is highly selective. It proceeds by linking up all that, according to dominant interests, has value anywhere in the planet, and discarding anything which has no value or becomes devalued, in a variable geometry of creative destruction and destructive creation of value.
It's hard to overemphasize how important Ford's deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first. Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s:...
I do not want to avoid immersing myself in trouble — to be a mess — to struggle out of it. I want to invent, to discover, to imagine, to speculate, to improvise — to seize the hazardous in order to be inspired. I want to experience the manifestation of the absolute — the manifestation of the unexpected in an extreme and unique relation. I know that only by following my creative instincts in an act of creative destruction will I be able to find it.
We are far from understanding how to achieve adaptively efficient economies because allocative efficiency and adaptive efficiency may not always be consistent. Allocatively efficient rules would make today's firms and decisions secure - but frequently at the expense of the creative destruction process that Schumpeter had in mind.
The opening up of new markets, foreign or domestic, and the organizational development from the craft shop and factory to such concerns as U. S. Steel illustrate the same process of industrial mutation-if I may use that biological term-that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one. This process of Creative Destruction is the essential fact about capitalism.
Situations emerge in the process of creative destruction in which many firms may have to perish that nevertheless would be able to live on vigorously and usefully if they could weather a particular storm.
Creative destruction can apply to economic concepts as well. And this downturn offers an excellent opportunity to get rid of one that has long outlived its usefulness: gross domestic product. G.D.P. is one measure of national income, of how much wealth Americans make, and it’s a deeply foolish indicator of how the economy is doing. It ought to join buggy.