13.3.06

CREATIVE DESTRUCTION. Take the largest corporations, ranked by capitalization in 1959. Set aside the oil companies. How many of those corporations are in the 2006 top ten? Only one, and its 2006 product line is very different from its 1959 offerings. Oil is another matter; apparently the Standard Oil Trust of New Jersey will be reborn sometime after the Second Coming of Ma Bell. King at SCSU Scholars has some pertinent questions for those who would interpret the numbers as heralding the decline and fall of the U.S. economy.

No comments: