Quotation of the Day…

by Don Boudreaux on May 18, 2013

in Complexity & Emergence, Creative destruction

… is from page 108 of Peter Drucker’s 1967 volume, The Effective Executive:

The need to slough off the outworn old to make possible the productive new is universal.  It is reasonably certain that we would still have stagecoaches – nationalized, to be sure, heavily subsidized, and with a fantastic research program to ‘retrain the horse’ – had there been ministries of transportation around 1825.

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