Home > Author > >

" An orderly deleveraging of an overheated market can be a good thing, even if some big companies fail. That’s how capitalism is supposed to work: weak, bloated, and mismanaged firms make way for more dynamic competitors. Creative destruction instills discipline in the survivors. "

, Stress Test: Reflections on Financial Crises


Image for Quotes

 quote : An orderly deleveraging of an overheated market can be a good thing, even if some big companies fail. That’s how capitalism is supposed to work: weak, bloated, and mismanaged firms make way for more dynamic competitors. Creative destruction instills discipline in the survivors.