Forum Archive Index - February 2004

["Allan Potts" <ajp7079@excite.com>]

Hi Gav,

Cannot answer you last question,--(I'm not there where the rubber meets the 
road)-- but I do believe Shumpeter---was a very, very--good economist--hapy you 
discovered--and quoted him.-----------------------Allan




 --- On Sat 01/31, Gavin Treadgold < gav@rediguana.co.nz > wrote:
From: Gavin Treadgold [mailto: gav@rediguana.co.nz]
To: sharechat@sharechat.co.nz
Date: Sun, 01 Feb 2004 17:53:51 +1300
Subject: [sharechat] The Churn - The Paradox Of Progress

Hi All.<br><br>Found this on another list recently, and thought a few here 
would be<br>interested to read it. It is a reprint from the Federal Reserve of 
Dallas<br>Annual Report in 1992. There is a very interesting essay on 'churn' - 
the<br>creation and destruction of jobs in the name of economic progress. Of 
course<br>for FA investors, it makes a very interesting read, especially with 
regards<br>to longer term investments in industries that are being torn down, 
and those<br>that are being newly created. There are numbers and tables for the 
TA crowd<br>;)<br><br>http://grift.com/churn.pdf<br><br>"Economists, 
questioning why America's job creation in the recovery of the<br>early 1990s 
fell short of expected levels, have reconsidered the ideas of<br>Joseph 
Schumpeter, who offered the first scholarly explanation of the churn<br>in the 
1930s. Schumpeter advanced the paradox that economic progress<br>destabilizes 
the world. Progress and job destruction go hand in hand in a<br>dynamic process 
he called creative destruction. Today, as in the 1930s,<br>Schumpeter's 
insights help explain how jobs emerge and disappear through the<br>innovation 
and entrepreneurship of free enterprise."<br><br>If you read this, I'd be 
interested to hear from people on what industries<br>in Australasia you think 
are currently being created or destroyed?<br><br>Cheers 
Gav<br><br><br><br>----------------------------------------------------------------------------<br>To
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