Post-Modern Creative Destruction
My last post ended with a glancing reference to Joseph Schumpeter, and a teaser for “further thoughts” regarding how a free people, living in the greatest country in human history, came to relinquish their sovereignty to unelected, black-robed solons. Schumpeter (1883-1950) was an Austrian school economist, not a sociologist, legal scholar, or political theorist. However, back in the “old days,” economics was more than graphs and equations; economics aspired to be a comprehensive explanation for human behavior. Good economists, such as Schumpeter and Friedrich Hayek, necessarily ventured—sometimes with great prescience—into history, philosophy, and even psychology as a guide to social interaction.
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