ECONOMIC%20POLICY%2020100 - ECONOMIC POLICY: CREATIVE...

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Unformatted text preview: ECONOMIC POLICY: CREATIVE DESTRUCTION THOUGHT PROVOKING QUESTION: IS OUR FORM OF CAPITALISM 1. THE END POINT OF ECONOMIC DEVELOPMENT 2. ONE PHASE OF A SYSTEM THAT KEEPS REINVENTING ITSELF 3. A BRIDGE TO ANOTHER KIND OF ECONOMIC SYSTEM ALTOGETHER? WESTERN PHILOSOPHY: EVERY ORGANISM CONTAINS THE SEEDS OF ITS OWN DESTRUCTION CASE IN POINT: ALL THAT MONEY, FAME, ATTENTION, WHAT COULD POSSIBLY BE THE DOWNSIDE OF THAT? WHICH ONE OF THESE WOMEN WAS WORTH $300,000,000? (ANSWER: NONE, BUT SOME YOU CAN RENT FOR $500 A NIGHT) WELL, SAME THING GOES FOR CAPITALISM KARL MARX (AMONGST OTHERS) PROPOSED THERE ARE STAGES OF ECONOMIC DEVELOPMENT CAPITALISM DESTROYED EARLIER PRIMITIVE AND FEUDAL ECONOMIES CAPITALISM WOULD EVENTUALLY BE DESTROYED BY SOM AND SOM, IN TURN, DESTROYED BY COMMUNISM COMMUNISM WOULD THEN BE DESTROYED BY THE UNITED FEDERATION OF PLANETS THEN VULCAN WILL BE DESTROYED BY NERO ALL THANKS TO SPOCK AND HIS SLOW-ASS SHIPWELL, YOU GET THE PICTURE. NOT JUST COMMIE-PINKOS BELIEVE THIS BTW JOSEPH SCHUMPETER WAS A BIG FAN OF CAPITALISM AND A VISIONARY 20 TH CENTURY EARTH ECONOMC THEORIST HE BELIEVED WHAT MADE CAPITALISM WORK WAS THE PROCESS OF CREATIVE DESTRUCTION THIS CHART SHOWS HOW NEW PRODUCTS ARE ABSORBED INTO THE MARKET MUCH FASTER THESE DAYS NOTE HOW MANY YEARS IT TOOK THE TELEPHONE, INVENTED IN 1876, TO BE IN A MAJORITY OF PEOPLES HOMES COMPARE THIS TO HOW MANY YEARS IT TOOK FOR CELLPHONES TO BE IN A MAJORITY OF PEOPLES HOMES THROUGH EVERY NEW STAGE OF ECONOMIC DEVELOPMENT, THERE ARE WINNERS AND LOSERS SORRY, WRONG LOSER THERE YOU GO.. SCHUMPETER BELIEVED THE INEQUALITIES/ECONOMIC DISLOCATION/DESTRUCTION OF VESTED INTERESTS CAUSED BY CREATIVE DESTRUCTION WOULD AT SOME POINT BECOME INTOLERABLE FOR POLITICIANS IN DEMOCRATIC SOCIETIES (NOT TO MENTION THE PEOPLE) AND THAT ULTIMATELY POLITICIANS WILL INTERVENE IN ORDER TO BLUNT THE EFFECTS OF CREATIVE CAPITALISM, AND IN SO DOING, DESTROY OR STUNT THE EVOLUTION OF CAPITALISM. i WHAT A SILLY BUNT! Bailed out banks The Treasury Department has invested about $200 billion in hundreds of banks through its Capital Purchase Program in an effort to prop up capital and support new lending. Heres a list of the banks that got bailed out. GREEN BACKGROUND DENOTES THE BANK HAS PAID TREASURY BACK Date Financial Institution City State Amount 10/28/2008 Wells Fargo & Co. San Francisco Calif. $25,000,000,000 10/28/2008 State Street Corp. Boston Mass. $2,000,000,000 10/28/2008 Bank of America Corp....
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ECONOMIC%20POLICY%2020100 - ECONOMIC POLICY: CREATIVE...

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