December 2014
Beginner
352 pages
14h 24m
English
Content preview from The Economics Book
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IN CONTEXT
FOCUS
Economic systems
KEY THINKER
Joseph Schumpeter (1883–1950)
BEFORE
1867 Karl Marx states that capitalism moves forward by crisis, repeatedly destroying a whole range of productive forces.
1913 German economist Werner Sombart argues that destruction opens the way for creation, just as a shortage of wood led to the use of coal.
AFTER
1995 US economist Clayton M. Christensen distinguishes between disruptive and sustaining innovation.
2001 US economists Richard Foster and Sarah Kaplan argue that even the most exceptional corporations cannot beat the capital markets indefinitely.
When a recession bites and companies and jobs start to disappear, ...
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