Back in the 1950s Austrian-American economist Joseph Schumpeter popularized the term "creative destruction" as a theory of economic evolution, meaning that as an economy ages businesses are continuously destroyed as they outgrow either their usefulness or efficiency, or both, and are then replaced by others.
That’s what happened for many of the businesses taken over by Mitt Romney’s Bain Capital. He streamlined or changed those businesses to make them more efficient and thus more profitable. In the doing, he at times laid off employees of the businesses. In the process, those who criticize his management say, he destroyed jobs.
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