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by CaptainSwing
3227 days ago
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I guess schumpeters point with creative destruction was the rupture required to replace one paradigm with another (Incidentally, he got this straight from marx). Technology, and markets, move in fits and starts as conservative tendencies meet with more efficient, or qualitatively different, competion. For both schumpeter and marx this view was seen as opposed to equilibrium models of economics on which much of mainstream economics and game theory still relies |
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