The Economist has been one my primary sources for global political and business news for nearly two decades. The latest issue contains a new column named after economist Joseph Schumpeter. Schumpeter’s concept of “creative destruction” has greatly influenced economists and has highlighted important factors that investors must consider when allocating capital. The audio interview below provides more details regarding Joseph Schumpeter and the new column.
The term “creative destruction” was used to promote countless business models of dubious value during the height of the dot com mania of the late 1990s. In the ensuing collapse, many observers have grown weary of this term and attribute its use to exaggeration and hyperbole. Nevertheless, the concept of creative destruction developed by Joseph Schumpeter nearly seven decades ago is impacting the newspaper publishing business like a category five hurricane. Does the print newspaper industry have a future? Read this article for more thoughts on this subject.