said he wanted tells a little bit of a your regard for joseph schumpeter and we have taken them on? >> i admire him a great deal. what i to see is creative destruction taking place all over the west. it was schumpeter's greatest inside the cap wasn't as is it's always a revolution system and that it's always has to destroy the old to bring in new. and he was perfectly right thing that going on in the white corporations operate the way the 19th century. where i begin to differ is that in schumpeter's account, things always turn out well. entrepreneurs always in fact, if they fail they're just a lemonade. if they succeed they are de facto bring in a new world. well, my entrepreneurs fail at bringing in a new world and they also fail and make a whole lot of money. and that became the puzzle for me as i went on. i agreed with schumpeter but i didn't see the same results coming out of it and i really wanted to understand why, how this process really worked. why virtually every railroad i've looked at ended up going bankrupt. many of them go bankrupt not once but twice. some of the highcha