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 ...

Ray Perryman is the head of The Perryman Group and serves as a distinguished professor at the International Institute for Advanced Studies. Each year, the Royal Swedish Academy of Sciences awards the ...

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 ...

In 1942, economist Joseph Schumpeter described “creative destruction” as a “process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying ...

This year’s Nobel Prize for Economics, which was given to three people who studied innovation and creative destruction, may well have some implications for the understanding of our economy. We appear ...

When drastic disruptions bring new political leaders, policymakers respond with major changes. We’re living in such a time, even if it’s not clear how much a pandemic, rampant inflation, international ...

Creativity drives growth. Pioneering ideas and technologies raise productivity. But at a cost — they destroy older methods, products, and businesses unless they too innovate and adapt. This ...

THE 2025 Nobel Prize in Economics is out. Institutionalists, economic historians, and political economists have won again, this time Joel Mokyr, Philippe Aghion, and Peter Howitt. This year’s award ...