SAGE Reference - Encyclopedia of Community: From the Village to the Virtual World

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Bankruptcy

By: John Hudson
In: Encyclopedia of Community: From the Village to the Virtual World
Edited by: Karen Christensen & David Levinson
Subject:Community Psychology, Sociology of Communities
Keywords:bankruptcy; creative destruction; distress; economies; firms; recession; social costs

Bankruptcy—called creative destruction by the economist Joseph Alois Schumpeter (1883–1950)—is the process by which the old and inefficient give way to the new and dynamic. The fear of bankruptcy is the stick, which together with the carrot of profits, drives firms ...

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  Hudson, J. (2003). Bankruptcy. In K. Christensen, & D. Levinson (Eds.), Encyclopedia of community: From the village to the virtual world (Vol. 1, pp. 113-82). SAGE Publications, Inc., https://www.doi.org/10.4135/9781412952583.n33
  
  Hudson, John. "Bankruptcy." In Encyclopedia of Community: From the Village to the Virtual World, edited by Christensen, Karen, and David Levinson, 113-82. Thousand Oaks, CA: SAGE Publications, Inc., 2003. http://dx.doi.org/10.4135/9781412952583.n33.
  
  Hudson, J. 2003. Bankruptcy. In: Karen Christensen and David Levinson Editors, 2003. Encyclopedia of Community: From the Village to the Virtual World, Thousand Oaks, CA: SAGE Publications, Inc. pp. 113-82 Available at: <http://www.doi.org/10.4135/9781412952583.n33> [Accessed 15 May 2021].
  
  Hudson, John. "Bankruptcy." Encyclopedia of Community: From the Village to the Virtual World. Edited by Karen Christensen and David Levinson. Vol. 1. Thousand Oaks: SAGE Publications, Inc., 2003, pp. 113-82. SAGE Knowledge. 15 May 2021, doi: http://www.doi.org/10.4135/9781412952583.n33.
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