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Downturn, start up -The effects of recessions onentrepreneurs and managers run deep 衰退与创业 经济衰退对企业家和经理人的影响在加剧 THE list of famous companies founded duringeconomic downturns is long and varied. It includesGeneral Motors, AT T, Disney and MTV, allfounded during recessions. A 2009 study found thatover half of Fortune 500 companies got their startduring a downturn or a bear market. A recession, itseems, may not be an entirely bad time to start acompany. Indeed, busts cast a longer shadow on the business landscapethan is commonly realised, because they influence both the rate of business formation andhow existing firms are run. 在经济衰退期间创办的知名企业数量很多，且各式各样的行业都有。通用汽车、美国电话电报公司、迪士尼和音乐电视等都是在经济衰退时创建的。2009年有研究发现，超过一半的财富500强公司都是在衰退或熊市期间创设的。经济衰退时期，看起来并非完全不适合创设新公司。事实上，萧条对经济的商业环境的影响远比一般人意识到的要深远，因为它们既影响新企业的设立速度又影响现有企业的运营状况。 Some argue that recessions speed up the process of productive economic churnwhatJoseph Schumpeter called creative destruction. The destruction part is easy to see:downturns kill businesses, leaving boarded-up windows on the high street as theirgravestones. But recessions may also spur the creation of new businesses. | 
