Enjoy Times+ for five weeks
for just £5
Creative destruction, an apparent oxymoron, describes how new thinking drives out old for the betterment of mankind. Rees-Mogg gave the example, among others, of railways destroying stagecoach services. He then convincingly and accurately explained how Mr Kruger was misunderstood when he talked of “creative destruction in the public services”. Simply put: the NHS ain’t working properly, so how can we reform it for the betterment of society?
However, William Rees-Mogg concludes that Danny Kruger should be asked to “go back to Sedgefield”, Tony Blair’s constituency. If only political debate were conducted on the lines of Rees-Mogg’s reasoned article, that might be possible. It is not. Labour, beleaguered, cornered and injured, will fight a nasty election campaign.
Michael Howard had no choice. With Danny Kruger still a Conservative candidate, there would have been incessant and inaccurate claims of how a Conservative government would “destroy” our public services. Attempts at an intellectual explanation of the origins of creative destruction would have been drowned out by contrived righteous indignation by Labour. William Rees-Mogg would know all this for a lie. Many others would not.
Yours faithfully,
MICHAEL FABRICANT,
House of Commons.
March 21.
From the Reverend Edward Carter
Sir, William Rees-Mogg does well to draw our attention to to the economic theories of Joseph Schumpeter. Schumpeter’s doctrine of “creative destruction” ensures a central place for entrepreneurship within economic theory, when it is normally absent, and this is to be applauded.
However, I believe Schumpeter’s more significant contribution was seen in the way he presented economics as being, by necessity, integrated with sociology and history. By the time I read my first degree in economics in the 1980s Schumpeter was nowhere to be seen, having been replaced by the mathematically based Chicago School model, which has no proper understanding of society or history.
Can we hope that Mr Kruger and others will now rediscover the full richness of Schumpeter’s work, and so bring a new realism and humanity into the economics of politics?
Yours faithfully,
EDWARD CARTER,
The Vicarage,
Glebe Road, Didcot OX11 8PN.
March 21.
Industry sectors news at a glance. Interactive heatmap, video and podcast
Get ready for the winter sports season, with our resort guides and snow reports
We are backing British business, what is the confidence of the nation and what businesses are succeeding?
Growing demand for energy, oil that is harder to reach and the rise of carbon dioxide emissions. We examine the energy challenge
In this special section we explore new food trends to help improve your dinner party and impress guests
Enjoy further reading from Travel to Fashion, Business to Sport, discover more
1998
£47,955
2004
£56,950
Essex
Check your free Experian credit report before applying
Car Insurance
From £44,589
HM PRISON SERVICE
Nationwide
Competitive
Hickman and Rose
London
Romulus Construction Limited
London
£100,000
Home Office
Liverpool
Moments from Battersea Park.
For sale with Winkworth
Find out about shared ownership.
See your free Experian credit report beforehand
Pay for an Ocean view and receive a free upgrade to a Balcony stateroom + up to $200 Free Onboard Spend!
Get covered on your travels with a superb range of policies at great prices. Visit InsureandGo.com
Wintersun - inspiration for your winter holiday
Contact our advertising team for advertising and sponsorship in Times Online, The Times and The Sunday Times, or place your advertisement.
Times Online Services: Dating | Jobs | Property Search | Used Cars | Holidays | Births, Marriages, Deaths | Subscriptions | E-paper
News International associated websites: Globrix Property Search | Milkround
Copyright 2010 Times Newspapers Ltd.
This service is provided on Times Newspapers' standard Terms and Conditions. Please read our Privacy Policy.To inquire about a licence to reproduce material from Times Online, The Times or The Sunday Times, click here.This website is published by a member of the News International Group. News International Limited, 1 Virginia St, London E98 1XY, is the holding company for the News International group and is registered in England No 81701. VAT number GB 243 8054 69.