creative destruction

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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.

creative destruction

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Creative Destruction Lab (CDL) - Montreal was founded in 2012 in Toronto by Ajay Agrawal in collaboration with the Rotman School of Management at the University of Toronto.
Two Canadian banks have partnered with Creative Destruction Labs in Montreal.
Even if we should be humble in predicting that self-driving vehicles will upend the trucking sector or drone delivery will decimate supermarkets, we can be confident that some creative destruction is coming.
Klenow argue that, while creative destruction plays a vital role in driving economic growth, it is not the dominant force.
RBC also extends its close collaboration with the University of Toronto through a new partnership with the Creative Destruction Lab, a seed-stage program for massively scalable, science-based companies.
Creative destruction explains why even people in poor countries now carry more computer power in their pockets than was contained in IBM mainframes the size of refrigerators in the 1970s.
One of the most problematic effects of Schumpeterian entrepreneurship and creative destruction in America is inequality.
Still, if more firms follow RCAP's lead and build platforms for smaller retail investors, they could pose a serious challenge--not only to startups, but to our understanding of creative destruction.
In particular, Liu voices a concern over the creative destruction of historical consciousness in the humanities, arguing that with "technologies, techniques, and the efficiency of their alignment .
It is a concept worth thinking about as the regional channel grapples with the creative destruction that is ripping the traditional solution provider and reseller business model to shreds.
THE BENEFITS OF CREATIVE DESTRUCTION in terms of new products and more efficient processes are substantial (Schumpeter, 1950; DeLong, 2000).
The creative destruction of medicine; how the digital revolution will create better health care.

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