In his landmark book Capitalism, Socialism, and Democracy, the economist and political scientist Joseph Schumpeter coined the term “creative destruction” — the idea that in a capitalistic society, ...

What is the defining characteristic of capitalism? Some say profit. Others, private ownership. Still others, rapacity. Considering that capitalism may have begun as early as the 16 th century, in ...

Creative destruction has the innate ability to impact the future of your business. Of the many things that can bring about the end of a business, few can be more lethal than stagnation — not changing ...

Ray Perryman is the head of The Perryman Group and serves as a distinguished professor at the International Institute for Advanced Studies. Each year, the Royal Swedish Academy of Sciences awards the ...

Those shaping America’s coal policy can learn something important about creative destruction, the process by which new technologies replace older ones through innovation, from the 2025 Nobel Prize ...

When drastic disruptions bring new political leaders, policymakers respond with major changes. We’re living in such a time, even if it’s not clear how much a pandemic, rampant inflation, international ...

The rapid advancement in artificial intelligence (AI) has brought us to another civilisational crossroads. As we head towards another wave of ‘creative destruction’, in Schumpeter’s terms, the rules ...

Before President Donald Trump, change came to Washington, D.C., very slowly. Now it has come in a great, big, destructive whirl. Trump’s Department of Government Efficiency deputy and fellow ...