Creative Destruction and Schumpeter’s Gale

Creative Destruction and Schumpeter’s Gale In the early 1900s, the economist Joseph Schumpeter coined the term Creative Destruction (also known as Schumpeter’s Gale). Basically (and I am probably upsetting a few ‘real’ economists here) creative destruction describes an economic order that can only develop out of the destruction of some prior economic order. [1] We […]