WSJ Editors Embrace “Creative Destruction”

The following excerpt arrived in my daily Asia alerts email from The Wall Street Journal:

JOURNAL’S FUTURE: Amid the news that the Bancroft family may soon sell The Wall Street Journal’s parent company, Dow Jones & Co., to Rupert Murdoch’s News Corp. or some other bidder, our editorial writers say it’s important to note that capitalism is dynamic — and those of us who extol the virtues of Joseph Schumpeter’s “creative destruction” for others can’t complain when it sweeps through our own industry. That’s what is happening as the Internet breaks up long-time media business models, and they write that Dow Jones is hardly immune.