I just checked the index of my dissertation to see if this book to the right is listed. It is not. Strange.
Rarely has a single idea had so much impact on me. Creative destruction, a concept that Joseph Schumpeter is most famous for, comes from that book. I will not try to explain it here because either you already know what it means or else you should really read it from the source.
In my dissertation I was interested in the impact of the efforts of entrepreneurs–specifically every single one of the thousands of entrepreneurs that started up a hotel business from the 1880s to the 1980s on both the Canadian and US side of Niagara Falls–to join together to develop a mutually beneficial solution when facing a collective threat. In this century-long story I had metrics to determine how those efforts impacted the likelihood of a hotelier’s staying in business after starting up. Niagara Falls was at risk of being ruined as a natural attraction. Hoteliers on each side of the border joined one another, cooperating with their direct competitors, to find a solution to that risk. Hoteliers, independently of the actions of those on the other side, jointly invested in conservation initiatives. The rich quantitative data show that on the side of the border that invested more heavily in conservation, over the course of 100 years hotels had fewer failures (permanent closure) overall. Bravo, Canada. Continue reading






























