What is the defining characteristic of capitalism? Some say profit. Others, private ownership. Still others, rapacity. Considering that capitalism may have begun as early as the 16 th century, in ...

BlackEconomics.org® The topic-question of this essay is more provocative than you might believe. It goes beyond the type of goals imposed on the U.S. Federal Reserve Board (FRB; an institutional unit ...

Philippe Aghion is a Professor at the College de France and at INSEAD, and a visiting professor at the London School of Economics and a fellow of the Econometric Society and of the American Academy of ...

In economics, ‘creative destruction’ means tearing down outdated systems to make way for progress. It is painful, it unsettles the old order, but it creates ...

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. Austrian economist Joseph Schumpeter's concept of creative destruction refers to the process ...

The National Center for Education Statistics reports that 99 postsecondary schools shut down this past academic year, roughly two per week. What the great economist Joseph Schumpeter called “creative ...

Republicans say they’re eager for the presidential campaign to turn away from “distractions” and focus instead on the economy. Someone should warn them that if they’re not careful, they might get ...