'Romney, not Obama, betrays our history. And Mitt's explanation for his job-destroying profiteering at Bain Capital reprises the rationalizations of the malefactors - when they bothered to have them. Romney insists that objections to what he did at Bain represent "envy" - that he was merely practicing the capitalism of "creative destruction." Ironically, the phrase derives from Karl Marx and Friedrich Engels, although it was finalized and popularized by the Austrian-American economist Joseph Schumpeter. As former Federal Reserve Chairman Alan Greenspan - no
liberal, to say the least - has observed: "The problem with creative destruction is that it is destruction" - and we "must address the problems [of] those who are on the destruction side." For Romney, the problem is that his version of the process created hundreds of millions of dollars for him - and the destruction of the livelihoods of ordinary hard-working Americans who are
already telling their stories on television. '

Columnist Robert Shrum 
The Week 
January 13, 2012

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