1/n Is Schumpeter's creative destruction occuring? Mara Faccio & John McConnell of @PurdueKrannert take a long-view look in new paper. Thread with some highlights nber.org/papers/w27871 #Growth #economy 2/n Creative destruction-"In this process, as the norm, firms, including large firms, do not remain the same for long, as they are continuously replaced by new entrants." Yet some large firms remain large for decades e.g. @ATT, @Nestle . How pervasive is this & why does it occur?

Here's a crazy thought: Has anyone ever considered that @amazon's dominance is due to the fact that it delivers things accurately and on time at a rate that exceeds their competitors? Because that is my experience. I'm glad so many agree! To add some context, 2 recent events inspired this. My wife was missing 4 items from a recent Bath&Body works order but she had to call them after a couple days to confirm they made mistake & could ship in another package or provide refund. She took refund

There are plenty of high-quality studies that find that a higher #MinimumWage reduces employment opportunities for lower-skilled workers & has other adverse effects. @andrewvandam ignores them all in this inaccurate piece in @washingtonpost --thread washingtonpost.com/business/2019/… reduces job growth jhr.uwpress.org/content/51/2/5…

Total nonfarm payroll employment increased by 313,000 in Feb. & the unemployment rate was unchanged at 4.1%...Employment rose in construction, retail trade, professional & business services, manufacturing, financial activities, & mining. bls.gov/news.release/e… #JobsReport Total age 25-54 (prime age) Labor Force Participation rate on upward trend back to pre-recession level