Creative Destruction and Modern Society

In this salon, Interintellect host Scott Davies explores the concept of ‘Creative Destruction’

We live in an age of increasing disruption, volatility and opportunity. With each passing year, the ways in which we conduct business, interact with one another and live our lives is changing more rapidly. A way of viewing this disruption and volatility is through the lens of Creative Destruction.

The term ‘Creative Destruction’ was first coined by the economist Joseph Schumpeter in ‘Capitalism, Socialism and Democracy’ (1942), as a means of describing the sometimes messy process of economic progress. Creative destruction and disruption are typically viewed from an economic lens, but a closer examination quickly shows how vast the implications and consequences of its effects can be on all aspects of our lives. It is not only businesses and firms that are disrupted from time to time to facilitate progress, but so are institutions and even whole societies.

In this wide-ranging Salon, join returning host Scott Davies, where we will discuss the following topics and more:

• How creative destruction affects us, both positively and negatively in everyday life
• What is the balance to be struck between disruption and preservation/cultivation?
• How can those who lose out from disruption and creative destruction be accounted for?
• Is ‘move fast and break things’ always the best approach to economic growth

Pre-Salon links:

(not required reading, but these will likely be mentioned at some point during the Salon)

• https://www.investopedia.com/terms/c/creativedestruction.asp
• https://www.investopedia.com/articles/investing/070715/insights-creative-destruction-and-technology.asp
• https://www.econlib.org/library/Enc/CreativeDestruction.html
• https://www.mannkal.org/downloads/scholars/schumpeter-keynes.pdf
• https://quillette.com/2021/06/04/winners-and-losers-the-global-economy-after-covid/

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