creative destruction


Also found in: Financial, Wikipedia.

creative destruction

The growth of certain industries and disruption of others when a revolutionary new idea takes hold. Automobiles severely impacted the use of horses. Big retail chains caused the demise of many small businesses. As a result of digital technology (personal computers, Internet, mobile devices, etc.), business and society have changed dramatically and continue to do so. See technology gap.
References in periodicals archive ?
Creative destruction, would-be disruptors argue, is inevitable.
The start of the third cohort also marks the beginning of the second year of the Creative Destruction Lab MBA course taught by Prof.
The theory of creative destruction argues that established firms tend to have a harder time adapting to the new technology and will go in decline, leaving the field to new players.
Will unscrupulous landlords defy the housing boom's creative destruction by recruiting a new and lower class of renters, promising free Doritos and grow light fixtures with every annual lease?
However, it becomes efficiently creative when it is fueled by the drive of creative destruction, the movement of which brings out a latent danger in rhizomatic behaviour to pursue multiplicities in a way that forgets at the same time that it creates (Deleuze and Guattari 9).
Although the changes wrought by creative destruction are arguably not Pareto optimal, the benefits are great enough that a large majority of us would arguably assent to the changes from behind a Rawlsian veil of ignorance (Rawls, 1971), especially insofar as the costs can be made less onerous.
Recent decades haven't settled the fate of capitalism, of course, but they have seen a vigorous debate over the meaning of creative destruction, one that is illustrated almost to perfection by the recent experience of Intel in Hudson.
THE CREATIVE DESTRUCTION OF MEDICINE: How the Digital Revolution Will Create Better Health Care by Eric Topol, M.
According to Professor Mark Levine the "neo-liberal globalizers and neo-conservatives, and ultimately the Bush Administration, would latch on to creative destruction as a way of describing the process by which they hoped to create their new world orders", and that "creative destruction [in] the United States was, in the words of neo-conservative philosopher and Bush adviser Michael Ledeen, 'an awesome revolutionary force' for (C*) creative destructionC*"
It is seated in Hayek's creative destruction -- hopefully, as in real life, the creative is more valuable than the destructive.
Economic and political institutions are central in nations' efforts to avoid stagnation and ensure sustained prosperity' it said, adding this is because sustained prosperity is a dynamic process of constant innovation and a never-ending cycle of Schumpeterian creative destruction, which can only be supported by open, inclusive institutions.
Eric Topol, MD's THE CREATIVE DESTRUCTION OF MEDICINE: HOW THE DIGITAL REVOLUTION WILL CREATE BETTER HEALTH CARE (9780465025503, $27.

Full browser ?