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Here's the Kind of Creative destruction We Need

I can’t imagine a finer example  of  “creative destruction” than Fisker Automotive’s takeover of a General Motors plant in Boxwood, Delaware that once built unwanted Pontiacs and minivans, but closed in July. The startup car maker will use a $528 million US government loan to build 100,000 plug-in hybrid electric cars a year that will sell for under $40,000. The firm’s Danish entrepreneur founder, Henrik Fisker, describes the new car as a “green BMW.” The firm plans to export at least half its production. The Irvine, California based company is already building a high end electric sports sedan in Finland called the “Karma” for $87,500. Joseph Schumpeter’s spirit must be smiling.