January 11, 2106 –  Washington Post
We are in the throes of another round of what the economist Joseph Schumpeter memorably called “creative destruction.” Two icons of American business — Macy’s and Sears — are struggling. Macy’s plans to close 100 stores to improve profitability, and Sears has sold its Craftsman tools line for roughly $900 million to raise cash. Conceivably, one or both of these historic chains could go bankrupt.