Capitalism is the world's engine of growth. But its very dynamism--its "creative destruction"--tends to produce great uncertainties. Unsuccessful firms are tossed aside to make way for new and better firms, and individuals who become economically less productive (often through no fault of their own) can also be "discarded" by the market, their careers interrupted and their investments cut to a fraction of their previous value.
Capitalism is the world's engine of growth. But its very dynamism--its "creative destruction"--tends to produce great uncertainties. Unsuccessful firms are tossed aside to make way for new and better firms, and individuals who become economically less productive (often through no fault of their own) can also be "discarded" by the market, their careers interrupted and their investments cut to a fraction of their previous value.