Dr Athreya on the cycle of contemporary management
Destruction is necessary in order to free the resources so that something new can begin. So competition is necessary to stop consumers from suffering
When you open up any industry/sector, there is a natural cycle that takes place. While some people fit, others don't - but that is the basis for capitalism. It is their ability to compete and perform that enables them to survive. This is a process called creative destruction, which was first coined by economist Joseph Schumpeter
