If you don’t know your Schum­peter, now is the moment to delve into his works. I echoed before about the broad Schum­peter­ian moment under way across a wide range of indus­tries. What we are wit­ness­ing here is pure cre­ative destruc­tion at play, crys­tal­lized in a cou­ple of defin­ing years (08–09).

That’s also why I will step up my blog­ging and try to post more reg­u­larly here and else­where. This is a defin­ing moment and I feel the need to go deeper about the oppor­tu­ni­ties open­ing up. All the old schemes are being or going to get crushed in the fore­see­able future. Yet, while a lot of peo­ple have antic­i­pated this and few have shed light on what’s next, 95% of it remains unknown. And this is fascinating.

As Umair reminds us in his lat­est mis­sive—on sus­tain­abil­ity but applic­a­ble to all areas:

Every piece of lit­er­a­ture seems to assume every­thing will return to nor­mal at some point; that any cor­po­rate strate­gis­ing around sus­tain­abil­ity can assume those same con­structs that have stood until now. But they’re not stand­ing at the moment and there’s more than a chance that we’re wit­ness­ing the irrepara­ble break­down of the cur­rent model.

And as it turns out, Schum­peter is again of help here:

Ana­lytic effort is of neces­sity pre­ceded by a pre­an­a­lytic cog­ni­tive act­that sup­plies the raw mate­r­ial for the ana­lytic effort. […] This pre­an­a­lytic cog­ni­tive act will be called Vision.

What we need, at the core and in every dis­ci­pline, is to change and renew the vision that limit our endeav­ors, because the old one is being dis­man­tled more and more by the day, no mat­ter what focus you take. Read­ing Umair can help.

Source of the quote: His­tory of Eco­nomic Analy­sis, 1954