Stochastic style's definitions

Schumpeter

Joseph Schumpeter. Economist. Wrote "The Theory of Economic Development." Coined the phrase "creative destruction" to describe the mess that results whenever capitalism takes off.

The Economist editorial: "Kakakistan's new government takes reform seriously, protects investment and property rights, and reduces taxes."
Kakakistan resident: "Can't afford food or rent. Seems we been Schumpetered."

Harlem real estate guy: Gentrified.
Harlem resident moving to the Bronx: Schumpetered.

by Stochastic style September 11, 2005