Abstract
Capital cycle analysis is strongly influenced by J.A. Schumpeter’s notion of creative destruction, namely that competition and innovation produce a constantly evolving economy and spur improvements in productivity. From this perspective, an economic recession serves a useful function as — to use a rather hackneyed image — the forest fire burns away the dead wood and weaker trees, allowing healthy young plants to grow and prosper.
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© 2016 Marathan Asset Management LLP
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Chancellor, E. (2016). The Living Dead. In: Chancellor, E. (eds) Capital Returns. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-137-57165-6_6
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DOI: https://doi.org/10.1007/978-1-137-57165-6_6
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-55541-3
Online ISBN: 978-1-137-57165-6
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