What is the defining characteristic of capitalism? Some say profit. Others, private ownership. Still others, rapacity. Considering that capitalism may have begun as early as the 16 th century, in ...

Policymakers shaping America’s coal policy can learn something important from the 2025 economics Nobel Prize winners about creative destruction, the process by which new technologies replace older ...

Creative destruction has the innate ability to impact the future of your business. Of the many things that can bring about the end of a business, few can be more lethal than stagnation — not changing ...

People who don’t much like modern capitalism, American-style, can take comfort in the pessimism of Joseph Schumpeter. In his 1942 book, Capitalism, Socialism, and Democracy, the Austrian economist ...

Welcome back. This week, I turn to “creative destruction”. The concept was popularised by Austrian political economist Joseph Schumpeter in the 1940s, and describes how old ideas, technology and ...

The National Center for Education Statistics reports that 99 postsecondary schools shut down this past academic year, roughly two per week. What the great economist Joseph Schumpeter called “creative ...

When drastic disruptions bring new political leaders, policymakers respond with major changes. We’re living in such a time, even if it’s not clear how much a pandemic, rampant inflation, international ...

Unsurprisingly, much wisdom is woven throughout my great emeritus colleague Vernon Smith’s counsel of hope about the post-Covid-19 economy (“The Economy Will Survive the Coronavirus,” op-ed, April 6).

Policymakers shaping America's coal policy can learn something important from the 2025 economics Nobel Prize winners about creative destruction, the process by which new technologies replace older ...

When drastic disruptions bring new political leaders, policymakers respond with major changes. We’re living in such a time, even if it’s not clear how much a pandemic, rampant inflation, international ...