Quote of the Day – on creative destruction

Experiences from bank runs during the Great De...

Experiences from bank runs during the Great Depression led to the introduction of deposit insurance in the US. (Photo credit: Wikipedia)

“Schumpeter’s gale of “creative destruction” has become a hurricane. New winds are battering down the fortifications that once protected the status quo. Economic integration has blown open protected markets. Deregulation has destroyed comfortable monopolies. Easily bored customers have become ever more promiscuous in their loyalties. Online search tools have created a class of almost perfectly informed customers.” Gary Hamel

 

 

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