Global Issues : social, political, economic and environmental issues that affect us all — Global Issues. Creative Destruction: Think like a Forest! The phrase “creative destruction” has become a common one as economies and nations struggle to adjust in the aftermath of the Crash of ’08.
It was Joseph Schumpeter who coined the expression to describe the workings of capitalism, and citations of the maverick economist seem to have soared in recent years. Schumpeter himself has been called a “living contradiction”, oscillating as he did between the twin poles of political economy – history and theory. In the early years of the 20th Century, a great battle was fought between the two. Theory won, leading eventually to the emergence in America of neoclassical economics, with its emphasis on equilibrium and the use of abstract models to study the real economy. Schumpeter refused to reconcile himself to this outcome and all his life he fought against what he called the “Ricardian Vice”, the tendency of neoclassical economists to mistake their models for reality. Turn to Nature Nature supplies an answer. Destruction and Renewal David K. Creative @TheStalwart Destruction. On unified news desks, we need to become content editors rather than page editors.
We must rethink how we publish our content, when and in what form, whether conventional news, blogs, video or social media. —“Lionel Barber’s Email to FT Staff Outlining Digital-First Strategy,” guardian.co.uk., January 21, 2013. The vision for the business section of the site is that it will be a single source for readers to find the best business news and analysis online—regardless of source. The news will come from Reuters and from the rest of the web. As for the analysis, sometimes we’ll link to it, sometimes we’ll reprint it from elsewhere, and sometimes we’ll write it ourselves. What’d I miss? Or so says a rather large and growing part of traditional business media. All—Barber’s Financial Times, Salmon’s Reuters, Bloomberg in all its facets, the Telegraph, and on and on—are observing, discussing, debating and hopefully reacting and acting upon … digital. The common theme is speed. Creative Destruction Visits the MBA - Rita McGrath. By Rita McGrath | 2:00 PM January 24, 2013 I recently wrote a blog post about the forces of competition and market change that are affecting the legal profession, causing many firms to now take the once unthinkable step of letting even senior partners go if they can’t produce sufficient revenues to contribute to the firm’s bottom lines (as reported in the Wall Street Journal).
Ironically, there was another article in that same issue of the Journal that hit a little closer to home — about the diminishing returns to the investment in an MBA degree. Entitled “For Newly Minted M.B.A.s, a Smaller Paycheck Awaits,” the article describes a phenomenon that I’ve been predicting for some time, which is that as the number of MBA degrees granted grows, the degree itself becomes commoditized and loses its differentiation. Grow it has — the Journal reported that the US awarded 126,214 masters of business administration in the 2010-2011 school year, 74% more than ten years prior. What can we predict? A Highlight and Note from Why Nations Fail: The Origins of Power, Prosperity, and Poverty. Meme Wars: The Creative Destruction of Neoclassical Economics. Over the last twenty years, Adbusters magazine has aimed to challenge consumerism, champion the environment, and provide a platform for some of our greatest thinkers.
In 2011, they instigated Occupy Wall Street, sparking a huge international movement. In Meme Wars, editor and founder of Adbusters Kalle Lasn aims to provide the building blocks, in texts and visuals, for a new way of looking at and changing our world. Illustrated in the distinctive style of the magazine and drawing on a wide cast of contributors Meme Wars places fresh emphasis on the environmental and human factors that are often left out in discussions of economics and examining alternative economies, finds Tom McDermott.
Meme Wars: The Creative Destruction of Neoclassical Economics. Edited by Kalle Lasne & Adbusters. Find this book: What is the relationship between the economy and happiness? Meme Wars styles itself as an alternative ‘Econ 101′ textbook.