Creative destruction, as Dr. El-Erian states, can be very good for all: Individuals, corporations, and institutions. Also, it is not something that comes naturally to people or to firms. Often times, it is something that's imposed upon us, either through circumstances that force us to seek other alternatives to our prevailing situations, or when we are forced to seek change because not doing so would render us inconsequential. However, it would be better for individuals and firms to cultivate the habit of ever seeking new opportunities thru the reengineering of our minds. Were we to do this, the acceptance of new ideas that are in conflict with our comfort zones would become a way of life for us.



Having said that, there's nothing magical about being youthful that draws in creative destruction. It is correct, though, that the youth tend to be more idealistic, which can make it easier for the acceptance of creative destruction; however, that's due to their inexperience of age. Somebody can be 70, or 80, or even 90, and yet still be quite idealistic and dynamic. I am reminded of Moses who begun his major work when he was 80. Therefore, the people who run governments should ideally be those who are well-versed in the arts, because the arts tend to fine-tune the human spirit. That is not to say that there shouldn't be room for science majors in government. It's just that those who are well-versed in the arts tend to be more tactful, more philosophical, and more idealistic. Since seasoned economists are scientists who are well-versed in the arts, they usually make very good civil servants.