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 ...

Economist Joseph Schumpeter called creative destruction—the process by which the economy grows via innovation that disrupts incumbent businesses—the “essential fact about capitalism.” But though there ...

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 ...

A trio of scientists Joel Mokyr, Peter Howitt, and Philippe Aghion has been awarded with the 2025 Nobel economics prize for their groundbreaking work on “creative destruction” theory. The prestigious ...