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Creative Destruction as an Anti-Casino

In 1942, economist Joseph Schumpeter coined the term “creative destruction” for the process of incessant product and process innovation mechanism by which new production units (jobs, businesses, industries) replace outdated ones. Continue Reading...

The Francis-Trump Populist Nexus

Populism makes for strange bedfellows, says Kishore Jayabalan in this week’s Acton Commentary. “Take Pope Francis and Donald Trump, for instance. They are certainly populists of very different sorts, but there is one issue that unites them – both are harsh critics of economic globalization.” Continue Reading...