creative destruction
(en)
the incessant product and process innovation mechanism by which new production units replace outdated ones; coined by Joseph Schumpeter in 1942 as "the essential fact about capitalism"
in fact, the very idea of "creative destruction" comes entirely from Marx. Schumpeter is the only significant right-wing, procapitalist economist who actually took the trouble to read Marx carefully and seriously
notable
6 years, 11 months ago