For many years now businessmen in the West have out sourced manufacturing of goods to Asia where labor was much cheaper as with all production overheads. Communist China took the biggest advantage and opened...
Schumpeter framed the phrase “creative destruction” into the economic discussion around 1940 in one of his publications.Creative destruction is often shared with innovation when something new kills something...
Economic growth and reduction is graphically best expressed by the sinus curve: the up going part is called ‘expansion’ and the down going curve ‘contraction’. Since last September the economy is in the...
Truemors
