Creative Destruction

Evan Kirchhoff has a brilliant post that uses the example of the supermarket and its newer “discount store” competitors to show how productivity increases, and everyone becomes better off, while jobs are outsourced and eliminated. The union-shop mentality that seeks to preserve low-productivity jobs helps no one in the long run.

(Via the latest Carnival of the Capitalists)

4 thoughts on “Creative Destruction”

  1. Bravo!! I second Jonathan, Evan’s post nailed it. Read on for an ironic twist on his line: “a lot of people who seem to broadly support markets in theory have little use for them in concrete instances”.
    Has anyone taken notice of the recent hue and cry emanating the loudest from Democrat-dominated States, regarding the re-importation of drugs from Canada? Are not these the same people bemoaning the spread of “globalism” and unfettered free trade, because of their effects on the American Worker? Yet they want to drop the borders and import the cheap drugs from the North. I guess there is not a large “United Brotherhood of Loyal and Righteous Medical Journeymen Local 1025”

  2. Excellent point Andy to go along with Evan’s excellent post.

    Just so you know Andy, nobody actually works for the drug companies. The drugs are made entirely by machines. Even the R&D is conducted by robots. The pharmacies that sell the drugs are owned by multi-national companies. Both the multi-nationals and the pharmacies are also run by robots. Haven’t you noticed the wooden like personas of pharmacists. Also, the stock for these companies is exclusively owned by robber baron types who are too rich already. So importing drugs from Canada hurts nobody. Its a win-win.

    Jim English

    Note: If Mr. English owns any pharmacutical stock its is through the mutual funds that Mr. English owns. Mr. English foolishly never bothers to read the prospectus and therefore has no idea what stock the mutual funds buy.

  3. So timely, I heard a piece today on Congressional lobbyists, where a representative of Pharma stated that they “are now the largest and most influential” lobbying group in the world. Imagine the sack it takes to say that ABOUT YOURSELF. More like what I would imagine a beleaguered and bitter competitor would say about Pharma.
    Note: At least Mr. English can now claim he was in the dark about his fund getting market-timed out of millions. E. Spitzer will probably be getting knighted any day now.

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