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November 21, 2007
The Gale of Creative Destruction Claims Another Victim
First it destroyed the buggy whip industry, then US-made consumer electronics, then the auto industry. Is no sector of the American economy safe from the disruptive forces of technological and social change?
Evidently not. Now, pornographers are getting blown away by economist Joseph Schumpeter's "perennial gale of creative destruction."
In the November issue of Portfolio magazine, the fascinating article "Obscene Losses" clues readers in to the shriveling profitability of adult digital entertainment, as DVD sales decline, competition intensifies and the suits try to diversify their revenue base. Sound familiar? All that's missing is the lobbying force in DC calling for protection for an embattled industry, plus ads from the heartland extolling the virtues and economic necessity of the effected companies.
I want to see Wilford Brimley and Betty White as the spokespeople for this "save our industry" campaign.
Van | 11/21/07 at 09:02 AM | Categories: Sensual pleasures
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