Creative destruction alive and well in NZ
John McMillan and
No 375201, Competition & Regulation Times from New Zealand Institute for the Study of Competition and Regulation
Headlines of job losses, downsizing, and bankruptcy are seldom associated with a vibrant economy - yet such creative destruction is an essential ingredient in the creation of economic growth. ISCR's Steen Videbeck looks at some recent research, by John McMillan from Stanford Graduate College of Business, which has endeavoured to quantify the amount of creative destruction present in the New Zealand economy.
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