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Thursday, August 20, 2009

Schumpeter Is Written in the Stars

Posted by on Thu, Aug 20, 2009 at 9:15 AM

Trust a capitalist to see capitalism at work at a cosmic level:

schumpeter-joseph.jpg

(WSJ) Some Creative Destruction on a Cosmic Scale

In a paradox of creation, new evidence suggests that devastating avalanches of cosmic debris may have fostered life on Earth, not annihilated it. If so, life on our planet may be older than scientists previously thought — and more persistent.

Astronomers world-wide have been transfixed by a roiling gash the size of Earth in the atmosphere of Jupiter, caused by an errant comet or asteroid that smashed into the gas giant last month. The lingering turbulence is an echo of a cataclysmic bombardment that shaped the origin of life here 3.9 billion years ago, when millions of asteroids, comets and meteors pummeled our planet.

Joseph Schumpeter gave capitalists this concept about destruction being for the most part good. From Wikipedia:

[An example of creative destruction] is the way in which online free newspaper sites such as The Huffington Post and the National Review Online are leading to creative destruction of the traditional paper newspaper. The Christian Science Monitor announced in January 2009[4] that it would no longer continue to publish a daily paper edition, but would be available online daily and provide a weekly print edition. The Seattle Post-Intelligencer became online-only in March 2009.[5] Traditional French alumni networks, which typically charge their students to network online or through paper directories, are in danger of creative destruction from free social networking sites such as Linkedin and Viadeo.[6]

From the solar system to the Seattle PI, creative destruction is doing its generally positive thing.

 

Comments (2) RSS

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lark 1
Good Morning Charles,
I have a question:

Can you deduce the same (that creative destruction is generally positive) regarding civilizations?

http://www.latimes.com/entertainment/new…

While I don't necessarily disagree with your conclusion, it does sound Darwinian (BTW, not necessarily a bad thing) and could be greatly problematic.
Posted by lark on August 20, 2009 at 10:00 AM
Aaron Pickus 2
Marshall Berman makes this exact point, coming from the stance of a Marxist, in laying out the history of Robert Moses's destruction/creation of modern New York City in his book All That Is Solid Melts Into Air.
Posted by Aaron Pickus http://urbangrown.blogspot.com on August 20, 2009 at 10:53 AM

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