Every crisis has a golden lining
Joseph A. Schumpeter (1883-1950) saw the economy as a waveform of crises and fresh starts. He elucidated this theory in a model of creative destruction. As an example: in 1601, an earthquake caused a major tsunami in Lake Lucerne, which completely destroyed the surrounding lake shores with a 13-foot-high wave. Despite this catastrophe, the region has developed over the centuries into a much loved and economically thriving tourist destination.
Residence Lake View
Room number 303
