Redbox vs. Blockbuster – Americans will welcome governmental creative destruction, just as they welcome it with consumer products
With so many government programs — in particular, monopolies like K-12 education — the establishment is either fearful or hostile to change. Out in the world, however, consumers welcome change, even when it causes short-term hardships on certain businesses. FromWikipedia, on “creative destruction:”
From the 1950s onwards, the term “creative destruction” has become more readily identified with the Austrian-American economist Joseph Schumpeter, who adapted and popularized it as a theory of economic innovation and progress. The term, as used by Schumpeter, bears little resemblance with how it used by Marx. As such, the term gained popularity within neoliberal or free-market economics as a description of processes such as downsizing in order to increase the efficiency and dynamism of a company.
From CNET: “Redbox, kiosk rentals now outpace video stores.”
“Netflix and other subscription services comprised 41 percent of video rental turns in the third quarter of 2010,” NPD wrote, “followed by kiosk rentals at 31 percent, and in-store rentals at 27 percent.”
Connect with Benjamin Hodge at Facebook, Twitter, LinkedIn, The Kansas Progress, and LibertyLinked. Hodge is President of the State and Local Reform Group of Kansas. He served as one of seven at-large trustees at Johnson County Community College from 2005-’09, a member of the Kansas House from 2007-’08, a delegate to the Kansas Republican Party from 2009-’10, and was founder of the Overland Park Republican Party in 2011. His public policy record is recognized by Americans for Prosperity, the Kansas Association of Broadcasters,the Kansas Press Association, the Kansas Sunshine Coalition for Open Government, the NRA, Kansans for Life, and the Foundation for Individual Rights in Education (FIRE).