Schumpeter had the vision about entrepreneurs as an agent of change who will destroy the equilibrium Creative destruction refers to the incessant product and process innovation mechanism by which ...
The displacement of the old with the new, a capitalist ideal popularised as “creative destruction” by Austrian economist Joseph Schumpeter in the 1940s, actually has eastern roots. In Hinduism ...
In his classic treatise “Capitalism, Socialism and Democracy,” the economist Joseph Schumpeter famously described the “perennial gale of creative destruction.” This is the basic idea that ...
Creative destruction is an economic concept described by Joseph Schumpeter in his 1942 book, "Capitalism, Socialism and Democracy." Schumpeter derived the idea from the work of Karl Marx.
Creative destruction is, of course, the phrase made famous by 20th century economist Joseph Schumpeter. ("Disruption," on the other hand, was coined by Clayton Christensen in the late 90s.
Citations: Gans, Joshua, David Hsu, Scott Stern. 2002. When Does Start-Up Innovation Spur the Gale of Creative Destruction?. RAND Journal of Economics. (4)571-586.