Economist Joseph Schumpeter once argued that people are too often lulled into an unproductively comfortable state...

Economist Joseph Schumpeter once argued that people are too often lulled into an unproductively comfortable state when they have continuous employment. His conclusion was that recessions (more accurately, depressions, in his era) were good because they forced people to be creative and entrepreneurial. He labeled this “creative destruction.” Do you agree with the premise of his argument? Do you agree with his conclusion?

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Yes I do agree with the premises of The Economist Joseph schumpeter's argument. It is often called as creative block, when paper are continuously working without any break they tend to get lazy and an interested towards their work. It doesn't matter if someone is doing what kind of work.

Hence in Big Industries as well leisure time is considered as productive breaks which increases efficiency of workers in the next few hours of the work. The brake system The Economist is talking about is is similar to this condition of taking leisure time in between work.

Although recession period days not a great period for the economy but The Economist is saying that this recession period is necessary for giving a break to continuous working system of of employers and employees which would help them to to take a break and be more creative towards the work and give more efficiency. Hence he called it as creative destruction.

Although I don't agree with the conclusion 100%. Calling the recession period, more specifically depression period in his era, as a constructive destruction, was not a very good idea. Because the destruction caused by the depression period was way more than the constructive it could be.

Many workers, rather than being creative in this recession period begin stressful because of loss of their jobs and not able to survive in the economy. Only a few class of people were part of this constructive destruction other than those were all the part of the destruction while in the period of depression.

Rahul Sunny answered 1 year ago

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