Creative Destruction - Alternative Name

Alternative Name

Per the following text, this process is also known as Schumpeter's Gale:

The opening up of new markets and the organizational development from the craft shop and factory to such concerns as US Steel illustrate the process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one ... must be seen in its role in the perennial gale of creative destruction; it cannot be understood on the hypothesis that there is a perennial lull. —Joseph Schumpeter, Capitalism, Socialism and Democracy, 1942

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