Creative Destruction: Too Far for Mortgages?

An Austrian economist, Josef Schumpeter, coined the term “Creative Destruction” in 1942, describing the process of capitalism which drives out the old to bring in the new. This “incessant” drive for Better, Faster, Cheaper came at the expense of the incumbent industries and their workers. He pointed to Henry Ford’s assembly line as an example. … Continue reading Creative Destruction: Too Far for Mortgages?