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- Creative destruction
In economics, the linked processes of the accumulation and annihilation of wealth under capitalism
Creative destruction is a concept in economics that describes a process in which new innovations replace and make obsolete older innovations. The concept is usually identified with the Austrian economist Joseph Schumpeter, who derived it from the work of Karl Marx and popularized it as a theory of economic innovation and the business cycle. It is also sometimes known as Schumpeter's gale. Wikipedia
