Why we need the ‘destruction’ in creative destruction

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. It’s largely the same idea, adapted for business school.) Creative destruction refers to the fact that the innovation that lifted us from subsistence farming to modern affluence involves not just ingenuity and invention, but breaking down the old order. Schumpeter called creative destruction an “industrial mutation… that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one.”

Source: theweek.com

Author shows creative destruction is not the same as incremental improvement. Argues that creative destruction is needed now in many areas as springboards for innovation.

See on Scoop.itCreativity and Learning Insights

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