
Economies in meltdown: lessons from past financial crashes
HistoryExtra podcast
00:00
The Dot Com Crash
Joseph Schumpeter came up with the concept of creative destruction where companies compete and you're very Darwinian. And his argument is that business cycles follow this pattern of firms competing, then busts and booms. The dot com period really did exemplify that; it's still the case to today as we've had a recent tech crash.
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