Creative Destruction 创造性破坏

Creative Destruction 创造性破坏

Creative destruction is a term relating to economic theory. It describes the process of industrial transformation that is constantly revolutionizing the economy from within. This process is the destruction of the old system as it creates the new one. It also refers to the constant development of business models and consumer products that render previous models obsolete, such as the cassette tape being followed by the compact disc followed by the mp3 file. Another example is ad-driven Internet journalism overtaking traditional newspapers. On an industrial scale, another example was the building of railroads that, while advancing a nation’s economic development, destroyed the transport businesses that preceded it. The term creative destruction was popularized by economist Joseph Schumpeter in his famous 1942 book, Capitalism, Socialism and Democracy.