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Has Creative Destruction become more Destructive?
2016
The B.E. Journal of Economic Analysis & Policy
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Abstract:Schumpeter's concept of creative destruction as the engine of capitalist development is well-known. However, that the destructive part of creative destruction is a social and economic cost and therefore biases our estimate of the impact of the innovation on GDP is hardly acknowledged, with the notable exception of Witt (1996. "Innovations, Externalities and the Problem of Economic Progress."
doi:10.1515/bejeap-2016-0179
fatcat:bvwd6zwjpvdzxnrtgeouqyzo4m