Those who know the least about capitalism rant the most about its negatives and never appreciate its overwhelming positives.. To those I would suggest a review of the life and work of Joseph Schumpeter, the Austrian-German-American economist. He died in 1950 and has been since 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 so many.
Personal incomes have doubled every fifty or sixty years in America, when entrepreneurial zeal is permitted to operate.
Yet, left-leaning politicians will never guess there is any economic opportunity without government being the instrument of largess.
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