Capitalism is a ‘perennial gale of creative destruction’, the economist Joseph Schumpeter wrote in his seminal oeuvre, Capitalism, Socialism, and Democracy (1942). His thesis was that capitalism is an evolutionary process where old business models are...
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Capitalism is a ‘perennial gale of creative destruction’, the economist Joseph Schumpeter wrote in his seminal oeuvre, Capitalism, Socialism, and Democracy (1942). His thesis was that capitalism is an evolutionary process where old business models are incessantly destroyed and new ones are incessantly created. Three-quarters of a century later, Schumpeter’s words are still relevant as ever: disruption continues to push companies to adjust and adapt to new business models and markets. Chief executives and management directors find themselves challenged as never before.
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