Covid-19 has created structural changes in the workplace
SOME economists welcome sharp economic downturns because of the "cleansing effects of recessions". They often refer to the concept of "creative destruction", developed by the Austrian-born economist Joseph Schumpeter in the 1950s.
Schumpeter himself saw it as a "process of industrial mutation that continuously revolutionises the economic structure from within, incessantly destroying the old one, incessantly creating a new one".
The current global pandemic has brought about plenty of economic destruction. Massive la…
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Columns
An overstimulated US economy is asking for trouble
Too many property agents? Cap commissions on home sales
Time to study broadening of private market access
China’s better economic growth hides reasons to worry
In AI-copyright battle, an existential crisis emerges
Europe shows diversifying from China’s economy is hard to do