- Competition which … strikes …existing firm … at their foundationsand their very lives…
… this kind of competition is … much more effective that the other … and [is] the powerful lever that in the long run expands output” (End of long quote)Old and New computer Performance? Resources?
Quote Schumpeter:”A railroad through new country,i.e., country not yet served byrailroads, as soon as it gets intoworking order upsets all conditionsof location, all cost calculations, allproduction functions within itsradius of influence; and hardly any’ways of doing things’ which havebeen optimal remain so afterward”.
Why does it look like this along a smallcountry road in Alabama?
If a new highway (an innovation) is builtnext to the country road, noone’s goingto drive on the old road…
… The value of the old isdestroyed by the new creation…