Tuesday, June 09, 2009

'Destruction brings creation'

BookValue
False Economy
Alan Beattie
( http://www.penguin.com/ )

Football and business

The great paradox of capitalism is that destruction brings creation, says Alan Beattie in False Economy: A Surprising Economic History of the World. “Companies trying to put each other out of business in fact bring many more businesses into existence and people into jobs as they strive for better technology, for more efficient ways of operating, for a smarter way of pricing their product – for anything that will win them more customers and give them an edge over the competition.”

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