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To: Ilaine who wrote (337)	6/15/2001 10:53:55 PM
From: JF Quinnelly	Respond to of 443

Schumpeter would probably agree that creative destruction is wasteful, but he'd also argue it's how economies develop. Schumpeter's book Capitalism, Socialism, and Democracy is very interesting. He thought that the very success of capitalism would give rise to a "new class" (you'll recognize them instantly). A class of educated people who never took risks or created anything of economic value like the earlier entrepreneurs, but who thought that they deserved to Run Things because they were Educated. He predicted the Clintons and their ilk 50 years ago. Another German economist I like is Wilhelm Roepke. He is often credited with guiding the German Economic Miracle after WWII. Roepke didn't like "bigness" in any of it's manifestations, gov't or corporate, and tried to design laws that encouraged "a humane economy". I don't know how many of his ideas, if any, are still incorporated in German law.