Creative Destruction is all around us. Our old industries are being replaced with efficient, cheap alternatives. In the case of technology, this happens more often. There has been a cycle, and the entire industry has been adapting itself—those that did not, disappeared or shrank in size. Who would have thought Amazon e-commerce sellers would also displace …
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Creative destruction
Capitalism thrives on Creative destruction. A concept shared by Schumpeter, an economist. According to Schumpeter, the “gale of creative destruction” describes the “process of industrial mutation that continuously revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one” [source] If we look back, see the history, we have many …