Re: [PEN-L:7115] Re: Re: Re: Creative Destruction

[Anthony D'Costa]

>  Remarks by Chairman Alan Greenspan
>  At the Haas Annual Business Faculty Research Dialogue,
>  University of California, Berkeley, California
>  September 4, 1998
> 
snip
> 
> Full speech at:
> http://www.bog.frb.fed.us/boarddocs/speeches/1998/19980904.htm
> 
> While Greenspan did not actually say it, one can almost hear a global creative
> destruction being described.
> While Schumpeter was talking about US Steel as the creative destroyer in his
> days, Greenspan/Rubin is talking about US Steel being creatively destroyed by
> Japanese and Russian steel imports.  They are also talking about Asian
> financial firms being creatively destroyed and taken over by American giants.
> The same is true in communication, IT, transportation, financial services.
> Schumpeter is Greenspan's idol, our modern creative destroyer.
> 
> Henry C.K. Liu
> 


The creative destruction of US Steel was long over and done with. 


Anthony D'Costa