Those who know the least about capitalism rail the most about it. To those I would suggest going to the library or online, to study the life and work of Joseph Schumpeter, the Austrian-German-American economist. He died in 1950 and has been since, unfortunately, overlooked in academic circles and the media.
His view of “creative destruction,” how the demise of established companies led to a growing economy has been the foundation of the American dream for many in the U. S.
Personal incomes have doubled every fifty or sixty years in America, when entrepreneurial zeal is permitted to operate.
Yet, listen to left-leaning politicians and you will never guess there is any economic opportunity without government the instrument of largess.
That visit to the library or a view of an online search engine could provide an education that I am sure an expensive general college education these days will not replicate, on the subject of Joseph Schumpeter.
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