Comments on: At what point in Schumpeter time does Newmark’s original heresy become network orthodoxy in the bureaucrats boardroom?

By: Out With A Bang » A belated welcome to MyFootballWriter ‘Lite’ and a few more lessons learned en route to over-throwing the bureaucrats.

Sat, 13 Mar 2010 15:49:05 +0000

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By: Rick Waghorn

Rick Waghorn — Mon, 25 May 2009 08:07:36 +0000

Edward,

Thank you very much for your post; it adds another twist to the tale.

I guess in a very, very small way the collapse of the real estate ad market – and, indeed, the switch to a network ad model of the RightMove and PrimeLocation ilk – fuelled the collapse of the newspapers’ advertising revenues and, therefore, played a part in their on-going struggles.

Indeed, given the numbers that used to follow the real estate ad market around, it’s probably no small part…

All the best, etc

By: Edward J. Dodson

Edward J. Dodson — Mon, 25 May 2009 00:48:04 +0000

A problem with Schumpeter’s analysis is he downplays (essentially ignores) property markets as drivers of the business cycle. Keynes also observed that, in his opinion, property –that is, land — markets were no longer important.

Well, with 35 years as a market analyst and business manager in the commercial and mortgage banking industry, I have observed that it is impossible to understand the causes of economic booms and busts without serious attention to land and property markets.

The current cycle was, of course, fueled by abandonment of prudent extension of credit by the FIRE (finance, insurance and real estate) sectors, along with an extensive infusion of outright criminal fraud.