TSXV:AUN.H - Post by User
Comment by
johnnywitson Jul 03, 2013 5:19pm
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Post# 21587726
RE:Don,t Understand
RE:Don,t UnderstandSilver dropping more than 40% this year has left its own wake of destruction on profitability within the sector. Many miners including Aurcana are under pressure without getting into operational specifics.
Looking at a bigger picture... mabye we are just transitioning through a period of Creative Destruction?
Creative destruction is a term originally derived from Marxisteconomic theory which refers to the linked processes of the accumulation and annihilation of wealth under capitalism. These processes were first described in The Communist Manifesto (Marx and Engels, 1848)[1] and were expanded in Marx's Grundrisse (1857)[2] and "Volume IV" (1863) of Das Kapital.[3] At its most basic, "creative destruction" (German: schöpferische Zerstörung) describes the way in which capitalist economic development arises out of the destruction of some prior economic order, and this is largely the sense implied by the German Marxist sociologistWerner Sombart who has been credited[4] with the first use of these terms in his work Krieg und Kapitalismus ("War and Capitalism", 1913).[5] In the earlier work of Marx, however, the idea of creative destruction or annihilation (German: Vernichtung) implies not only that capitalism destroys and reconfigures previous economic orders, but that it must ceaselessly devalue existing wealth (whether through war, dereliction, or regular and periodic economic crises) in order to clear the ground for the creation of new wealth.[1][2][3]
https://www.princeton.edu/~achaney/tmve/wiki100k/docs/Creative_destruction.html