How Russ Got His Groove Back

For any number of decades now, manufacturers and accountants have been shipping jobs overseas because it makes short term economic sense.  Ron Johnson touts his manufacturing and accountancy bona fides as reason to vote for him as Wisconsin's, a state that benefited from immigration as great naturalized American citizen and proud Wisconsonian Carl Schurz[1]recognized some time ago, next Senator.  Russ Feingold points out that Johnson is full of hooey:




And as by the way, "creative destruction" is Joseph Schumpeter's notion of the

opening up of new markets, foreign or domestic, and the organizational development from the craft shop and factory to such concerns as U.S. Steel illustrate the same process of industrial mutation–if I may use that biological term–that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one. This process of Creative Destruction is the essential fact about capitalism.

There is no sense of moral or socially beneficial change but rather the iron necessity of change for change's sake. Creative destruction is a fact of the matter only so far as one is concerned with profit and exploitation.

[1] His memoirs are really worth reading.