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Author:Walker, Meredith 

Monograph
China's churn

Several years ago, the Dallas Fed's annual report featured an essay entitled "The Churn." The churn is our term for what economist Joseph Schumpeter called "creative destruction." A dynamic economy like ours can grow and make room for the new only if we allow parts of the economy to shrink. Unprofitable firms and industries must be allowed to fail and go out of business so their workers and other resources can move into firms and industries whose products are more favored or needed by consumers. This is, as the essay's subtitle says, the paradox of progress.
Monograph

Journal Article
Speeding up the broadband wagon

Southwest Economy , Issue Nov , Pages 8-9

Journal Article
Telecom in North Texas : A case study in agglomeration

Southwest Economy , Issue Nov , Pages 1-4, 12

Journal Article
Biotech bonanza: prospects for Texas

Southwest Economy , Issue Jul , Pages 1-7

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