Capitalism Works: Creative Destruction - Deepstash
Capitalism Works: Creative Destruction

Capitalism Works: Creative Destruction

In a capitalist system, when old companies fail, they are replaced by newer and better ones. This is a sign of a healthy market economy.

Unlike other industries, it is illegal for companies to conspire together in the business world. In contrast, in academia, universities can work with accreditation bureaus to control competition.

Creative destruction is necessary for progress in business, but many people outside of this world are resistant to change.

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