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Updated: August 3, 2024
We may yet look back on the 20th century and note with amazement the transient and aberrant phase of intermediation the Sony's, Microsoft's, and Forgent's of this world. The Fabric of Economic Trust By: Dr. Sam Vaknin Economics acquired its dismal reputation by pretending to be an exact science rather than a branch of mass psychology.
Still, Schumpeter believed in the faculty of "disruptive technologies" and "destructive creation" to check the power of oligopolies to set extortionate prices, lower customer care standards, or inhibit competition. Linux threatens Windows. Opera nibbles at Microsoft's Internet Explorer. Amazon drubbed traditional booksellers. eBay thrashes Amazon.
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