Talking Finance: Dinosaur developers still stalk the land
Natural selection should have put an end to many of our construction magnates after the crash. But, propped up by Nama, they are back in business
One of the great tragedies of the recent crash is that the natural order was prevented
from occurring. In every catastrophe there are people and firms who come out as winners
because the dinosaur in front of them finally keeled over and died.
This idea was originally a Marxist one, later adopted by the economist Joseph
Schumpeter, and is often encapsulated in the term ‘creative destruction’.
Human life was a beneficiary of this ...
