Schumpeter's gale

English

Etymology

From Joseph Schumpeter's Capitalism, Socialism and Democracy.[1]

Proper noun

Schumpeter's gale

  1. (economics) The principle of creative destruction; the obsolescence of existing products due to the introduction of new products.

See also

References
  1. Joseph Schumpeter (1942) Capitalism, Socialism and Democracy, Harper & Brothers, →OCLC, pages 83–84:
    Every piece of business strategy acquires its true significance only against the background of that process and within the situation created by it. It must be seen in its role in the perennial gale of creative destruction; it cannot be understood irrespective of it or, in fact, on the hypothesis that there is a perennial lull.

Further reading
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