We are living in the Age of Transformation, where the market masters the rules and the times of the economy, the players must ride these waves to look at their targets. Joseph Schumpeter described as “perennial gale of creative destruction.” In an excellent essay on creative destruction, Michael Michael and Richard Alm lay out the paradox between the demise of the old industries and the rise of new ones:
Schumpeter and the economists who adopt his succinct summary of the free market’s ceaseless churning echo capitalism’s critics in acknowledging that jobs, ruined companies, and vanishing industries are inherent parts of the growth system. The saving grace comes from recognizing the good that comes from the turmoil. Over time, societies that allow creative destruction to operate more productive and richer their citizens see the benefits of new and better products, shorter work weeks, better jobs, and higher living standards. Herein lies the paradox of progress. Not just in the short term, but perhaps forever. March of progress. Schumpeter’s enduring term reminds us that capitalism’s pain and gain are inextricably linked. The process of creating new industries does not go forward without sweeping away the preexisting order.
Our company is following this path, it was at the end of the former century and then we are growing up side by side with our customers. Today we have developed new technologies to scan and check bags. So we deliver bags without any contamination, suitable for sensitive applications.