True, True …

From: mvale… (Mario Valente)
Newsgroups: mv
Subject: True, True …
Date: Fri, 10 Apr 09 15:00:21 GMT

“Economic progress, in capitalist society, means turmoil” [1]

“Entrepreneurs seek profits by introducing new goods, services,
organizations, and techniques. In doing so, they advance the
economic welfare of society. At the same time, their activities
are profoundly disturbing. Entrepreneurs are, after all, the
agents of “creative destruction”, as Joseph Schumpeter so aptly
labeled the processes of change they set in motion; their
successes invariably upset existing social arrangements,
transferring wealth and power from old to new sectors of the
It is for that reason, throughout most of history, that expansive
empires and local tribe cultures alike have tried to curb
entrepreneurial bahavior with political restraints and social
taboos, lest it upset the status quo. Modern capitalist societies
depend utterly on entrepreneurship for their progress; but they
too remain ambivalent about its effects. Even in the USA, where
entrepreneurship is widely valued, vested interests have always
risen up to protest, and otherwise resist, the social and
economic changes that entrepreneurship has brought about.”

“The New Financial Capitalists, KKR and the
Creation of Corporate Value”, page 1

— MV

[1] “Capitalism, Socialism & Democracy”, pag 31/32
Joseph A. Schumpeter

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