November 2, Creative Destruction and ‘Repealing the 20th century’

[marmar]

from In These Times:



November 2, Creative Destruction and ‘Repealing the 20th century’

Friday
29 Oct 10
1:30 pm

By Roger Bybee


Well, in a free-market capitalist system, there are always winners and losers. It's creative destruction. That just happens. It's unfortunate. But let's face it, if it weren't for that we'd still have buggy whip companies.
—Senate candidate Ron Johnson (R-Wisc.)


As gutsy progressive Senator Russ Feingold (D-Wisc.) has come storming back in recent weeks despite the predicted Republican avalanche, Mr. Johnson is learning that "creative destruction" is not a good campaign slogan.

Feingold highlight's Johnson's use of "creative destruction" in a powerful new ad featuring workers from Kimberly Paper explaining how they lost their jobs when new owner NewPaper shut down the most productive and technologically advanced paper plant in the state (as discussed here. and here).

Yet "creative destruction" is a remarkably apt term for the corporate strategies that have undermined America's productive base, wiping out 4.9 million industrial jobs and leaving more than 43,000 factories as vacant shells since 1994, when America' officially embarked on the era of "free trade" with Mexico and China. The "destruction" side has been all too evident.

Moreover, protecting Corporate America's ability to engage in creative destruction is the central reason behind the unprecedented flow of corporate money from the Chamber of Commerce and American Crossroads flowing into this midterm election season. .............(more)

The complete piece is at: http://www.inthesetimes.com/working/entry/6598/nov._2_creative_destruction_and_repealing_the_20th_century/