Arbeitspapier

Has Creative Destruction Become More Destructive?

Schumpeter's concept of creative destruction as the engine of capitalist development is well-known. However, that the destructive part of creative destruction is a social cost and therefore biases our estimate of the impact of the innovation on NNP and on welfare is hardly acknowledged, with the exception of Witt (1996). We conjecture that recently the new technologies are often creating products which are close substitutes for the ones they replace whose value depreciates substantially in the process of destruction. Consequently, the contribution of recent innovations to NNP and to welfare is likely biased upward. This note calls for a research agenda to estimate and decompose innovations into their creative and destructive components.

Sprache
Englisch

Erschienen in
Series: CESifo Working Paper ; No. 4941

Klassifikation
Wirtschaft
Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
Economic Development: General
Thema
Schumpeter
creative destruction
innovation
technological change

Ereignis
Geistige Schöpfung
(wer)
Komlos, John
Ereignis
Veröffentlichung
(wer)
Center for Economic Studies and ifo Institute (CESifo)
(wo)
Munich
(wann)
2014

Handle
Letzte Aktualisierung
10.03.2025, 11:42 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Komlos, John
  • Center for Economic Studies and ifo Institute (CESifo)

Entstanden

  • 2014

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