Creative Destruction - Deepstash

Creative Destruction

One of the pillars of capitalism is a free-market system. A near-constant flow of innovative entrepreneurs breaking monopolies and then themselves creating new ones.

The term "creative destruction" was coined by Austrian American economist Joseph Schumpether (1883-1950). In his vision of capitalism entrepreneurs are the disruptive force which sustains economic growth.

E.g. Blockbuster dominated the physical movie distribution, with over 9000 stores over the US. They had the monopoly, but they didn't see digital streaming coming. Then Netflix created and Blockbuster was destroyed.

364

2.26K reads

CURATED FROM

IDEAS CURATED BY

maxpamies

Business Administration and Management Student | Blockchain, DEFI & Web3 | Social Worker | "Fix the money & fix the world."

In this brilliant book, Jeff Booth explains his vision of the near future with the influence of technology on it.

The idea is part of this collection:

How to Succeed at Investing

Learn more about technologyandthefuture with this collection

How to create a diversified portfolio

How to analyze stocks and bonds

Understanding the basics of investing

Related collections

Read & Learn

20x Faster

without
deepstash

with
deepstash

with

deepstash

Personalized microlearning

100+ Learning Journeys

Access to 200,000+ ideas

Access to the mobile app

Unlimited idea saving

Unlimited history

Unlimited listening to ideas

Downloading & offline access

Supercharge your mind with one idea per day

Enter your email and spend 1 minute every day to learn something new.

Email

I agree to receive email updates