his name was joseph schumpeter. marx looked at the bust side and forecast destruction. mpeter looked at the boom side and called it regeneration. schumpeter came and preached the belief that capitalisism was by its nature intrinsically dynamic. that was the essence of capitalism. to invent, innovate, to risk, was the capitalist. he thought, just like in the feudal days, to get on a horse and fight was the very essence of what it was to be a knight. he deeply believed the real propulsion was provided by its faculty for continuously generating technological change of a both constructive and destructive kind. in comes a new invention and down goes three old businesses. he called it the gale of creative destruction. in january 1922, without the benefit of any government intervention, the economy surged out of its doldrums and into the roaring twenties, the big boom. the evidence of growth seemed to support schumpeter. industry prospered, helped along by such innovations as the assembly line. if workers weren't always prosperous, schumpeter would argue capitalists gave energy