- published: 24 Feb 2014
- views: 20702
Creative destruction (German: schöpferische Zerstörung), sometimes known as Schumpeter's gale, is a concept in economics which since the 1950s has become most readily identified with the Austrian American 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.
According to Schumpeter, the "gale of creative destruction" describes the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one". In Marxist economic theory the concept refers more broadly to the linked processes of the accumulation and annihilation of wealth under capitalism.
The German Marxist sociologist Werner Sombart has been credited with the first use of these terms in his work Krieg und Kapitalismus ("War and Capitalism", 1913). In the earlier work of Marx, however, the idea of creative destruction or annihilation (German: Vernichtung) implies not only that capitalism destroys and reconfigures previous economic orders, but also that it must ceaselessly devalue existing wealth (whether through war, dereliction, or regular and periodic economic crises) in order to clear the ground for the creation of new wealth.
Watch and listen as Creative Destruction illustrates the economic cycles that occur within capitalism as technology evolves over time. While this process does not always benefit everyone, it is an essential part of economic growth and innovation.
In this video we discuss what creative destruction is and how it works. We also briefly touch on the history of the subject. In my opinion it is something that needs to be considered when making a financial investment in a company.
Why are price signals and market competition so important to a market economy? When prices accurately signal costs and benefits and markets are competitive, the Invisible Hand ensures that costs are minimized and production is maximized. If these conditions aren’t met, market inefficiencies arise and the Invisible Hand cannot do its work. In this video, we show how two major processes, creative destruction and the elimination principle, work with the Invisible Hand to create a competitive marketplace that works for producers and consumers. Microeconomics Course: http://bit.ly/20VablY Ask a question about the video: http://bit.ly/1Tzi93M Next video: http://bit.ly/1Qf5B0q Help us caption & translate this video! http://amara.org/v/GSLI/
I, Pencil Extended Commentary is a video series elaborating the fundamental themes of "I, Pencil." The subject of this installment is Creative Destruction. Featured scholars: - Art Carden, Assistant Professor of Economics at Samford University; - Deirdre McCloskey, Distinguished Professor of Economics, History, English and Communications at the University of Illinois at Chicago - Lawrence W. Reed, President of the Foundation for Economic Education - Walter E. Williams, John M. Olin Distinguished Professor of Economics at George Mason University
What is CREATIVE DESTRUCTION? What does CREATIVE DESTRUCTION mean? CREATIVE DESTRUCTION meaning - CREATIVE DESTRUCTION definition - CREATIVE DESTRUCTION explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. Creative destruction, sometimes known as Schumpeter's gale, is a concept in economics which since the 1950s has become most readily identified with the Austrian American 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. According to Schumpeter, the "gale of creative destruction" describes the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, i...
This talk was given at a local TEDx event, produced independently of the TED Conferences. Punit talks about his high school experience where he turned from a non-academic student to class president. Wanting to impact the next generation, Punit talks of his reason for founding the Young Entrepreneur Leadership Launchpad. Punit is the co-founder and CEO of OncoSec Medical. "I have always been a bit of a serial entrepreneur, and I place great value on helping future leaders overcome challenges through mentorship and education. I am the co-founder of the Young Entrepreneurship & Leadership Launchpad, a program that creates an eco-system for students and future entrepreneurs to learn the skills to have rewarding careers.” About TEDx, x = independently organized event In the spirit of ideas wo...
Tom G. Palmer é um membro sênior do Instituto Cato, e diretor da Universidade Cato. Palmer também é o vice-presidente executivo de programas internacionais da Fundação Atlas Economic Research, e o é responsável pela criação de programas operacionais em 14 idiomas e gestão de programas de uma rede mundial de grupos de reflexão. Antes de ingressar no Cato ele era um companheiro HB Earhart em Hertford College, Universidade de Oxford, vice-presidente do Institute for Humane Studies da Universidade George Mason. In the spirit of ideas worth spreading, TEDx is a program of local, self-organized events that bring people together to share a TED-like experience. At a TEDx event, TEDTalks video and live speakers combine to spark deep discussion and connection in a small group. These local, self-org...
**Submissions for this FredQuest are now closed, but you can still submit your own comedy videos at www.heyitsfred.com** Do you have what it takes to complete the FredQuest? Make a video of yourself building something and then destroying it in a fun, crazy, and creative way. Need help? Recruit your friends and family! But most importantly, have fun! The best videos will be featured on the FRED Channel!
Stanford University's CS183C course, taught by Reid Hoffman (LinkedIn CEO), John Lilly, Chris Yeh and Allen Blue. Blitzscaling is what you do when you need to grow really, really quickly. It’s the science and art of rapidly building out a company to serve a large and usually global market, with the goal of becoming the first mover at scale. The class explains the visible secret of Silicon Valley's success: entrepreneurs, venture capital, technical universities, existing technology companies — which all lead to launching great startups and the creation of massive new industries. Notes and Essays: https://medium.com/cs183c-blitzscaling-class-collection
Watch and listen as Creative Destruction illustrates the economic cycles that occur within capitalism as technology evolves over time. While this process does not always benefit everyone, it is an essential part of economic growth and innovation.
In this video we discuss what creative destruction is and how it works. We also briefly touch on the history of the subject. In my opinion it is something that needs to be considered when making a financial investment in a company.
Why are price signals and market competition so important to a market economy? When prices accurately signal costs and benefits and markets are competitive, the Invisible Hand ensures that costs are minimized and production is maximized. If these conditions aren’t met, market inefficiencies arise and the Invisible Hand cannot do its work. In this video, we show how two major processes, creative destruction and the elimination principle, work with the Invisible Hand to create a competitive marketplace that works for producers and consumers. Microeconomics Course: http://bit.ly/20VablY Ask a question about the video: http://bit.ly/1Tzi93M Next video: http://bit.ly/1Qf5B0q Help us caption & translate this video! http://amara.org/v/GSLI/
I, Pencil Extended Commentary is a video series elaborating the fundamental themes of "I, Pencil." The subject of this installment is Creative Destruction. Featured scholars: - Art Carden, Assistant Professor of Economics at Samford University; - Deirdre McCloskey, Distinguished Professor of Economics, History, English and Communications at the University of Illinois at Chicago - Lawrence W. Reed, President of the Foundation for Economic Education - Walter E. Williams, John M. Olin Distinguished Professor of Economics at George Mason University
What is CREATIVE DESTRUCTION? What does CREATIVE DESTRUCTION mean? CREATIVE DESTRUCTION meaning - CREATIVE DESTRUCTION definition - CREATIVE DESTRUCTION explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. Creative destruction, sometimes known as Schumpeter's gale, is a concept in economics which since the 1950s has become most readily identified with the Austrian American 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. According to Schumpeter, the "gale of creative destruction" describes the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, i...
This talk was given at a local TEDx event, produced independently of the TED Conferences. Punit talks about his high school experience where he turned from a non-academic student to class president. Wanting to impact the next generation, Punit talks of his reason for founding the Young Entrepreneur Leadership Launchpad. Punit is the co-founder and CEO of OncoSec Medical. "I have always been a bit of a serial entrepreneur, and I place great value on helping future leaders overcome challenges through mentorship and education. I am the co-founder of the Young Entrepreneurship & Leadership Launchpad, a program that creates an eco-system for students and future entrepreneurs to learn the skills to have rewarding careers.” About TEDx, x = independently organized event In the spirit of ideas wo...
Tom G. Palmer é um membro sênior do Instituto Cato, e diretor da Universidade Cato. Palmer também é o vice-presidente executivo de programas internacionais da Fundação Atlas Economic Research, e o é responsável pela criação de programas operacionais em 14 idiomas e gestão de programas de uma rede mundial de grupos de reflexão. Antes de ingressar no Cato ele era um companheiro HB Earhart em Hertford College, Universidade de Oxford, vice-presidente do Institute for Humane Studies da Universidade George Mason. In the spirit of ideas worth spreading, TEDx is a program of local, self-organized events that bring people together to share a TED-like experience. At a TEDx event, TEDTalks video and live speakers combine to spark deep discussion and connection in a small group. These local, self-org...
**Submissions for this FredQuest are now closed, but you can still submit your own comedy videos at www.heyitsfred.com** Do you have what it takes to complete the FredQuest? Make a video of yourself building something and then destroying it in a fun, crazy, and creative way. Need help? Recruit your friends and family! But most importantly, have fun! The best videos will be featured on the FRED Channel!
Stanford University's CS183C course, taught by Reid Hoffman (LinkedIn CEO), John Lilly, Chris Yeh and Allen Blue. Blitzscaling is what you do when you need to grow really, really quickly. It’s the science and art of rapidly building out a company to serve a large and usually global market, with the goal of becoming the first mover at scale. The class explains the visible secret of Silicon Valley's success: entrepreneurs, venture capital, technical universities, existing technology companies — which all lead to launching great startups and the creation of massive new industries. Notes and Essays: https://medium.com/cs183c-blitzscaling-class-collection
This is session 3 of Technology-enabled Blitzscaling, a Stanford University class taught by Reid Hoffman, John Lilly, Allen Blue, and Chris Yeh. This class features a guest lecture by venture capitalist Michael Dearing, the Founder of Harrison Metal, who is then interviewed by Reid Hoffman.
Mr. Rajeev Thakkar talks about Personal Mobility at the latest Financial Opportunities Forum event held in June 2017. Subscribe to the Forum here. http://ppfas.com/subscribe-for-fof/ Automotive industry globally: Is it changing and is destructive technology threatening existing players A lot has been talked about and discussed on electric car technology. Many players have been saying, they have an electric car ready, a pro-type for testing and its the future. However the question is, is the infrastructure being built to make it a feasible option to make electric cars with viability? There are many questions to be answered on this. Tesla is making electric cars but selling only 100000 units a year. Is that really going to expand? Future will tell us on how viable it is to make it an...
The media sector as it existed in the 20th century was an aberration, an accident at the intersection of economics & technology. That accident is now being cleared by the inexorable forces of creative destruction and a new one is rising in its place.
http://www.youtube.com/user/1SickMusic1 Dashcraft Self-released Tracklist: 1. Wreck 2. Tschuma 3. Minced Chaos 4. Q-tip 5. Artifical Nature 6. Muriatic Acid 7. Insecticide 8. Phase Neutrum 9. Trash Factory 10. - 11. Good To Be Rude 12. estFM.Sampler 13. Dash Is Comin' 14. Hopeless Mankind 15. Peace OFF Mind 16. Pessimistic Thinks 17. Plain Execution 18. Cut The Speaker 19. H8 No.9 20. Get The Fuck Out Of My Way 21. System Is Fucked Up 22. Philistine Abuser 23. Nuclear War 24. Drugz Are Unnecessary 25. Feszūltséglevezetés 26. Drill
Dr. Eric Topol, author of the Creative Destruction of Medicine, keynotes Strictly Mobile 2014 in Mountain View, CA on April 10, 2014. Eric Topol, M.D., is an American cardiologist, geneticist, and researcher. Topol currently serves as Director of the Scripps Translational Science Institute in La Jolla, California. He also serves as the Chief Academic Officer for Scripps Health, a professor of Translational Genomics at The Scripps Research Institute, and The Gary and Mary West Chair of Innovative Medicine. In addition, Topol is a co-founder of and serves on the Board of the West Wireless Health Institute as Vice-Chairman. He is editor-in-chief of Medscape and theheart.org. In January 2012 he published a popular book called The Creative Destruction of Medicine which examined the impact of b...
Schumpeter has been traditionally understood as the ‘economist of the entrepreneurship’. Mainstream economics, for example, emphasizes Schumpeter´s optimist perspective on capitalism as an innovation machine and the entrepreneur as the agent of change, progress and development under the compulsion of competition. This presentation, by José Miguel Ahumada, PhD candidate in Development Studies, will take a distance from that perspective and will present an introduction to Schumpeter´s approach on the dynamic of capitalism, not only as an economic system, but as a complete social order. In trying to understand capitalism as an evolving social system, Schumpeter went beyond traditional neoclassical economics, opening the door for a multidisciplinary approach to the economy. However, in inclu...
I created this video with the YouTube Video Editor (http://www.youtube.com/editor)
2015 World Summit on Technological Unemployment: Opening Keynote
Dr. Eric Topol visits Google to talk about his book: The Creative Destruction of Medicine: How the Digital Revolution Will Create Better Health Care "Until very recently, if you were to ask most doctors, they would tell you there were only two kinds of medicine: the quack kind, and the evidence-based kind. The former is baseless, and the latter based on the best information human effort could buy, with carefully controlled double-blind trials, hundreds of patients, and clear indicators of success. "Well, Eric Topol isn't most doctors, and he suggests you entertain the notion of a third kind of medicine, one that will make the evidence-based state-of-the-art stuff look scarcely better than an alchemist trying to animate a homunculus in a jar. It turns out plenty of new medicines—although te...
this ship is sinking, nobody's thinking about building a
life boat.
they're just filling holes with fingers and toes while
the water breaks through doors.
we're going down.
despite all your predictions, your market positions, none
of it was true.
now a change is coming. creative destruction is crashing
down on you.
it'll take you out.