Printer Friendly
Dictionary, Encyclopedia and Thesaurus - The Free Dictionary
1,782,672,979 visitors served.
forum mailing list For webmasters
?
New: Language forums
Dictionary/
thesaurus
Medical
dictionary
Legal
dictionary
Financial
dictionary
Acronyms
 
Idioms
Encyclopedia
Wikipedia
encyclopedia
?

Creative Destruction

   Also found in: Encyclopedia, Wikipedia 0.01 sec.
Creative Destruction
A concept in capitalist theory stating that innovation causes failure, but that failure, in turn, creates more innovation. For example, suppose someone invents a better widget. If he/she markets this widget effectively, he/she will eventually drive all previous widget manufacturers out of business. However, this forces older widget manufacturers to create their own innovations that will either keep themselves in business or improve their financial situations in other ways. This is considered one of the most important concepts in capitalism.


How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content.
?Page tools
Printer friendly
Cite / link
Email
Feedback
Add definition
? Mentioned in ? References in periodicals archive
No references found
 
Creative destruction at the beginning of the 20th century resulted in industry consolidation and the formation of great media empires.
Restructuring involves the creative destruction and reinvention of today's top automotive OEMs and suppliers.
This view is widely held among neoliberal economists, corporate elites and members of the Bush administration who contend that capitalism involves a dynamic process of creative destruction in which relentless innovation replaces outmoded economic activities with new, wealth creating forms of production.
 
Financial browser? ? Full browser
 
 
Financial Dictionary
?

Disclaimer | Privacy policy | Feedback | Copyright © 2009 Farlex, Inc.
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional. Terms of Use.