I believe in “true capitalism” there is such a thing as creative destruction. Buggy whips, secretaries typing, etc. Things like Global Crossing and Solyndra don’t qualify. Someone who walks into a bank with a gun is a greater benefit to the economy. At least there is some hope the robber can be caught and not only some resources be recovered but his behavior comes to at least a temporary cessation. The folks who do things like Solyndra, etc. (think Corzine) do not get punished (which would deter others as well as stop him) the resources aren’t recovered, and the success they enjoy motivates others and they move on to the next thing.
I would submit that what I am describing is EXACTLY why the only demographic segment of society that has enjoyed a real growth period for two decades has been the one percent. Or “the system is rigged”.
You’re shining gigantic a spotlight on what is a very, very tiny part of our total economy.
Creative destruction is mostly a term made up by transnationals and globalists to try and hide the real destruction of US manufacturing companies, sometimes entire industries, and the economies of many communities as a result of the trade agreements promoted and passed that can have no result other than moving production facilities and jobs from advanced nations to cheap labor nations.
Globalist policies are the reason the top 1% has enjoyed most of the growth in income over the past several decades.
The difference between buggy whips and a factory off shoring, factories that makes valuable products is lost on you.