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Economist Joseph Schumpeter once argued that people are too often lulled into an unproductively comfortable state when they have continuous employment. His conclusion was that
Economist Joseph Schumpeter once argued that people are too often lulled into an unproductively comfortable state when they have continuous employment. His conclusion was that recessions (more accurately, depressions, in his era) were good because they forced people to be creative and entrepreneurial. He labeled this "creative destruction." What are 3 pros and cons of "creative destruction'?
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