Sunday, May 3, 2009

Styen channels Schumpeter

Joseph Schumpeter thought that capitalism would be a successful economic system but would not be successful socially. A recent column by Mark Steyn made me think of Schumpeter.
Margaret Thatcher was a great leader, who reversed her country’s decline — to the point where, two decades later, the electorate felt it was safe to vote the Labour party back into office. And yet, in the greater scheme of things, the Thatcher interlude seems just that: a temporary respite from a remorseless descent into the abyss.

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