A young reporter asked a leading capitalist how he made
his fortune. "It was really quite simple", the capitalist answered. I bought an apple for 5 cents, spent the evening polishing it, and sold it the next day for 10 cents. With this I bought two apples, spent the evening polishing them,and sold them for 2O. And so it went until I amassed 80. It was at this point that my wife's father died and left us a million dollars". Is this true? Is it fair? What does it all mean? There are no more hotly contested questions in our society than why some are rich and others poor—and whether things have to be this way.
http://www.nyu.edu/projects/ollman/docs/what_is_marxism.php
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- Is this what Schumpeter called the “Cycle of Innovation"?
Is this what Schumpeter called the “Cycle of Innovation"?, page-26
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