What links Schumpeter, market structure and Basel III?
Regulators are hoping higher capital levels will translate into healthier markets. There are two problems with that
Restructuring is a scary word for an individual company and its workers. It implies the risk of unemployment and the need to find new work, along with all the accompanying peril and pain.
To economists, restructuring is often viewed as a good thing: a constant, healthy process through which failed products and companies are swept aside, allowing new ones to take their place. It is closely related to the notion of creative destruction, popularised by Austrian economist Joseph Schumpeter in 1942
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