Schumpeter's gale

English Etymology From Joseph Schumpeter's Capitalism, Socialism and Democracy.1942 Capitalism, Socialism and Democracy 22556726 Joseph Schumpeter Harper & Brothers 83–84 https://archive.org/details/in.ernet.dli.2015.190072/page/n91/mode/1up 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. Proper noun en economics The principle of creative destruction; the obsolescence of existing products due to the introduction of new products. See also en innovator's dilemma References Further reading creative destruction en eponyms