Wednesday, January 13, 2010

Making a success of failure

An article by Schumpeter in the Economist online reminded me of the situation of the Legion of Christ and Regnum Christi - the phrase about "the enlightened attitude of putting resources back to productive use as quickly as possible" is key.
I hope this is what the Apostolic Visitation does with the tarnished Legion...

"The American model has seldom looked so tarnished. America’s unemployment rate is 10%. Soup kitchens are doing a flourishing business in New York and other great cities. Companies that were once a byword for swashbuckling entrepreneurialism have bitten the dust.
America’s enlightened attitude to corporate bankruptcy is designed to put economic resources back to productive use as quickly as possible. This means distinguishing between potentially viable companies and terminally ill ones."
As Schumpeter says, "it beats flagellation!"

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